(10 October 2019)Gold spot ($) Bullish bias above 1504.00.

 

Pivot
 (invalidation): 1504.00
Our preference
Long positions above 1504.00 with targets at 1517.00 & 1519.50 in extension.
Alternative scenario
Below 1504.00 look for further downside with 1499.50 & 1495.50 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited