Technical Analysis:[/list]Spot Gold rose to 899 yesterday before falling back to 880's. There is potential for a double top which calls for downside towards 870-880 before more upside. Elliott Wave count of double zig-zag is not possible seeing the deflationary data yesterday.



Strategy 1:[/list]
  1. Sell at 891

    Stop 895

    Target 886



Strategy 2:[/list]
  1. Sell below 885

    Stop 888

    Target 882 and 877.5



Strategy 3:[/list]
  1. Buy above 900
    Stop 897
    Target 903 and 907