(12 SEPTEMBER 2018)Gold spot ($):The downside prevails.

Pivot (invalidation): 1197.25

Our preference

Short positions below 1197.25 with targets at 1192.50 & 1190.00 in extension.

Alternative scenario

Above 1197.25 look for further upside with 1200.00 & 1202.00 as targets.

Comment

The RSI is bearish and calls for further downside.

(By Swissquote TRADING CENTRAL)