XAU Trading Outlook (08-09-2015)

GOLD

Pivot: 1124.8

Likely scenario: Short positions below 1124.8 with targets @ 1114 & 1110 in extension.

Alternative scenario: Above 1124.8 look for further upside with 1133 & 1142 as targets.

Comment: As long as 1124.8 is resistance, likely decline to 1114.

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