XAU Trading Outlook (06-08-2015)

GOLD

Pivot: 1097.5

Likely scenario: Short positions below 1097.5 with targets @ 1080 & 1073 in extension.

Alternative scenario: Above 1097.5 look for further upside with 1105 & 1115 as targets.

Comment: As long as 1097.5 is resistance, likely decline to 1080.

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