GOLD (SPOT) INTRADAY: CAUTION.
Pivot: 1530.00
Most Likely Scenario: SHORT positions below 1530 with 1523 & 1516 in sight.
Alternative scenario: The upside penetration of 1530 will call for a rebound towards 1535 & 1540.
Comment: the index currently faces a challenging resistance area around 1530.
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