Gold spot Intraday: key resistance at 1248.80. 01. March 2017

Pivot: 1248.80

Our preference: short positions below 1248.80 with targets at 1240.75 & 1235.50 in extension.

Alternative scenario: above 1248.80 look for further upside with 1252.00 & 1258.50 as targets.

Comment: the RSI is bearish and calls for further decline.