Pivot: 1180
Our preference: Long positions above 1180 with targets @ 1361 1434 in extension.
Alternative scenario: Below 1180 look for further downside with 1134 1080 as targets.
Comment: The gold price has broken above a declining trend line, which should open a upward path to 1361 and even 1434.
Supports and resistances:
1485
1434
1361
1271.6 Last
1180
1134
1080
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