(22 MAY 2019)Gold spot ($):Capped by a negative trend line.

Pivot (invalidation): 1276.25

Our preference

Short positions below 1276.25 with targets at 1269.25 & 1265.50 in extension.

Alternative scenario

Above 1276.25 look for further upside with 1279.00 & 1282.00 as targets.

Comment

The RSI calls for a drop.

(By Swissquote TRADING CENTRAL)