(16 MAY 2019)Gold spot ($):Bullish bias above 1293.00.

Pivot (invalidation): 1293.00

Our preference

Long positions above 1293.00 with targets at 1300.00 & 1303.00 in extension.

Alternative scenario

Below 1293.00 look for further downside with 1289.50 & 1287.00 as targets.

Comment

A support base at 1293.00 has formed and has allowed for a temporary stabilisation

(By Swissquote TRADING CENTRAL)