XAU Trading Outlook (08-12-2015)

GOLD

Pivot: 1075

Likley scenario: long positions above 1075 with targets @ 1091 & 1100 in extension.

Alternative scenario: below 1075 look for further downside with 1069.5 & 1064 as targets.

Comment: the break above the resistance at 1075 triggered an upward acceleration to 1091.

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