(31 JULY 2019)Gold spot ($) :Supported by a rising trend line.

Pivot (invalidation): 1426.00

Our preference

Long positions above 1426.00 with targets at 1433.00 & 1437.00 in extension.

Alternative scenario

Below 1426.00 look for further downside with 1422.00 & 1417.00 as targets.

Comment

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

limited.

(By Swissquote TRADING CENTRAL)