(27 August 2020)Gold spot ($) The bias remains bullish.

Pivot
 (invalidation): 1936.00
Our preference
Long positions above 1936.00 with targets at 1955.00 & 1962.00 in extension.
Alternative scenario
Below 1936.00 look for further downside with 1927.00 & 1918.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be
limited.