(03 AUGUST 2018)Gold spot ($):The downside prevails.

Pivot (invalidation): 1214.00

Our preference

Short positions below 1214.00 with targets at 1202.00 & 1200.00 in extension.

Alternative scenario

Above 1214.00 look for further upside with 1220.50 & 1225.00 as targets.

Comment

The RSI is bearish and calls for further decline.

(By Swissquote TRADING CENTRAL)