GOLD (Spot) intraday: the downside prevails.

Gold2013211175411Our preference: SHORT positions below 1664 with 1636 & 1625 as next targets.

Alternative scenario: The upside penetration of 1664 will call for a rebound towards 1673 & 1684.

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

Trend: ST Range; MT Bearish

Key levels Comment

1684*** Previous high
1673* Intraday resistance
1664** Intraday pivot point
1646.2 Last
1636* Intraday support
1625*** Horizontal support
1612* Fib projection

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