(05 SEPTEMBER 2018)Gold spot ($):Key resistance at 1196.50.

Pivot (invalidation): 1196.50

Our preference

Short positions below 1196.50 with targets at 1189.50 & 1187.00 in extension.

Alternative scenario

Above 1196.50 look for further upside with 1201.00 & 1204.00 as targets.

Comment

The RSI is mixed with a bearish bias.

(By Swissquote TRADING CENTRAL)