(06 AUGUST 2019)Gold spot ($):Bullish bias above 1459.00.

Pivot (invalidation): 1459.00

Our preference

Long positions above 1459.00 with targets at 1475.00 & 1488.00 in extension.

Alternative scenario

Below 1459.00 look for further downside with 1452.00 & 1445.00 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be

limited.

(By Swissquote TRADING CENTRAL)