Gold spot Intraday: key resistance at 1165.
Pivot: 1165
Our preference: Short positions below 1165 with targets @ 1148.5 & 1139 in extension.
Alternative scenario: Above 1165 look for further upside with 1170 & 1175.35 as targets.
Comment: As long as the resistance at 1165 is not surpassed, the risk of the break below 1148.5 remains high.
