Gold Intraday: target 4800.
Pivot:
5007
Our preference:
Short positions below 5007 with targets at 4845 & 4800 in extension.
Alternative scenario:
Above 5007 look for further upside with 5040 & 5080 as targets.
Comment:
As long as the resistance at 5007 is not surpassed, the risk of the break below 4845 remains high.
