(10 OCTOBER 2018)Gold spot ($):Bullish bias above 1185.00.

Pivot (invalidation): 1185.00

Our preference

Long positions above 1185.00 with targets at 1192.00 & 1195.00 in extension.

Alternative scenario

Below 1185.00 look for further downside with 1180.50 & 1176.50 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)