(18 SEPTEMBER 2018)Gold spot ($):Break of a ST rising trendline support.

Pivot (invalidation): 1202.00

Our preference

Short positions below 1202.00 with targets at 1192.50 & 1190.00 in extension.

Alternative scenario

Above 1202.00 look for further upside with 1205.00 & 1208.50 as targets.

Comment

The RSI is bearish and calls for further decline.

(By Swissquote TRADING CENTRAL)