Tanalys

Gold spot Intraday: key resistance at 1160.

Pivot: 1160

Our preference: Short positions below 1160 with targets @ 1142.6 1139 in extension.

Alternative scenario: Above 1160 look for further upside with 1165 1170 as targets.

Comment: As long as 1160 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:

1170 ***

1165 *

1160 ***

1151.2 Last

1142.6 **

1139 **

1131 **

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