Tanalys

Gold spot Intraday: bullish bias above 1089.5.

Pivot: 1089.5

Our preference: Long positions above 1089.5 with targets @ 1105 1115 in extension.

Alternative scenario: Below 1089.5 look for further downside with 1080 1073 as targets.

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

Supports and resistances:

1123.9

1115

1105

1093.61 Last

1089.5

1080

1073

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