Gold spot Intraday: rebound expected.

2016-10-11

Pivot: 1250.20

Our preference: long positions above 1250.20 with targets at 1265.00 & 1277.00 in extension.

Alternative scenario: below 1250.20 look for further downside with 1240.50 & 1235.00 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1287.00
1277.00
1265.00
1258.80 Last
1250.20
1240.50
1235.00