Tanalys

Gold spot ST: bullish bias above 1178.

Pivot: 1178

Our preference: Long positions above 1178 with targets @ 1233 1255 in extension.

Alternative scenario: Below 1178 look for further downside with 1130 1080 as targets.

Comment: A support base at 1178 has formed and has allowed for a temporary stabilisation.

Supports and resistances:

1309 **

1255 *

1233 *

1188.8 Last

1178 ***

1130 *

1080 *

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