XAU Trading Outlook (10-08-2015)

GOLD

Pivot: 1082.5

Likely scenario: Long positions above 1082.5 with targets @ 1101 & 1103.5 in extension.

Alternative scenario: Below 1082.5 look for further downside with 1080 & 1077.5 as targets.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limite

 

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