(16 AUGUST 2018)Gold spot ($):Key resistance at 1176.00.

Pivot (invalidation): 1176.00

Our preference

Short positions below 1176.00 with targets at 1166.50 & 1160.00 in extension.

Alternative scenario

Above 1176.00 look for further upside with 1184.00 & 1189.00 as targets.

Comment

The RSI is mixed to bearish.

(By Swissquote TRADING CENTRAL)