(31 January 2020)Gold spot ($) The downside prevails.

Pivot
 (invalidation): 1578.00
Our preference
Short positions below 1578.00 with targets at 1567.00 & 1563.50 in extension.
Alternative scenario
Above 1578.00 look for further upside with 1582.00 & 1585.50 as targets.
Comment
The RSI is bearish and calls for further decline.

(By Swissquote TRADING CENTRAL)