Tanalys

GOLD (Spot) intraday: under pressure.

Pivot: 1577.50

Our preference: SHORT positions below 1577.5 with 1563 1556 as next targets.

Alternative scenario: The upside breakout of 1577.5 will open the way to 1585 1592.

Comment: the RSI is bearish and calls for further downside.

Trend: ST Ltd downside; MT Range

Key levels Comment

1592** Horizontal resistance

1585** Intraday resistance

1577.5*** Intraday pivot point

1567.2 Last

1563** Intraday support

1556** Intraday support

1551** Fib projection

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