(16 October 2019)Gold spot ($) Key resistance at 1488.50.

(16 October 2019)Gold spot ($) Key resistance at 1488.50.

16 October 2019, 09:18
Jiming Huang
0
29

GO
Pivot
 (invalidation): 1488.50
Our preference
Short positions below 1488.50 with targets at 1477.00 & 1474.00 in extension.
Alternative scenario
Above 1488.50 look for further upside with 1497.00 & 1503.00 as targets.
Comment
As Long as the resistance at 1488.50 is not surpassed, the risk of the break below 1477.00
remains high.

(By Swissquote TRADING CENTRAL)

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