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Gold Spot Bullish Bias Above 1474.00

Pivot (invalidation): 1474.00

Our preference Long positions above 1474.00 with targets at 1482.00 & 1487.00 in extension.

Alternative scenario Below 1474.00 look for further downside with 1470.00 & 1464.00 as targets.

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

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