(02 AUGUST 2018)Gold spot ($):Key resistance at 1222.00.

Pivot (invalidation): 1222.00

Our preference

Short positions below 1222.00 with targets at 1217.00 & 1213.50 in extension.

Alternative scenario

Above 1222.00 look for further upside with 1225.00 & 1228.50 as targets.

Comment

The RSI is mixed with a bearish bias.

(By Swissquote TRADING CENTRAL)