Tanalys

Gold spot ST: caution.

Pivot: 1240

Our preference: Short positions below 1240 with targets @ 1125 1080 in extension.

Alternative scenario: Above 1240 look for further upside with 1297 1350 as targets.

Comment: As long as 1240 is resistance, expect a return to 1125.

Supports and resistances:

1350 *

1297 **

1240 ***

1226.1 Last

1125 ***

1080 **

1040 *

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