(02 October 2019 )Gold spot ($) Bullish bias above 1474.00.

 

Pivot
 (invalidation): 1474.00
Our preference
Long positions above 1474.00 with targets at 1482.00 & 1487.00 in extension.
Alternative scenario
Below 1474.00 look for further downside with 1470.00 & 1464.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited.