XAU Trading Outlook (29-07-2015)

GOLD

Pivot: 1106

Likely scenario: Short positions below 1106 with targets @ 1086.5 & 1077 in extension.

Alternative scenario: Above 1106 look for further upside with 1119 & 1129.4 as targets.

Comment: As long as 1106 is resistance, likely decline to 1086.5.

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