(18 OCTOBER 2018)Gold spot ($):Consolidation in place.

Pivot (invalidation): 1227.50

Our preference

Short positions below 1227.50 with targets at 1220.00 & 1216.00 in extension.

Alternative scenario

Above 1227.50 look for further upside with 1233.00 & 1238.00 as targets.

Comment

The RSI is capped by a bearish trend line.

(By Swissquote TRADING CENTRAL)