(23 January 2020)Gold spot ($) Bullish bias above 1554.50.

Pivot
 (invalidation): 1554.50
Our preference
Long positions above 1554.50 with targets at 1560.00 & 1563.50 in extension.
Alternative scenario
Below 1554.50 look for further downside with 1550.00 & 1546.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited.

(By Swissquote TRADING CENTRAL)