(13 AUGUST 2018)Gold spot ($):Consolidation in place.

Pivot (invalidation): 1215.00

Our preference

Short positions below 1215.00 with targets at 1206.75 & 1204.00 in extension.

Alternative scenario

Above 1215.00 look for further upside with 1217.25 & 1220.25 as targets.

Comment

As Long as 1215.00 is resistance, look for choppy price action with a bearish bias

(By Swissquote TRADING CENTRAL)