(18 JANUARY 2019)Gold spot ($):Consolidation in place.

Pivot (invalidation): 1295.00

Our preference

Short positions below 1295.00 with targets at 1288.50 & 1286.50 in extension.

Alternative scenario

Above 1295.00 look for further upside with 1297.00 & 1299.50 as targets.

Comment

As Long as 1295.00 is resistance, look for choppy price action with a bearish bias.

(By Swissquote TRADING CENTRAL)