Gold spot Intraday: under pressure

xauusd20160825
Pivot: 1331.50

Our preference: short positions below 1331.50 with targets @ 1315.50 & 1310.00 in extension.

Alternative scenario: above 1331.50 look for further upside with 1340.00 & 1345.00 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
1345.00
1340.00
1331.50
1320.00 Last
1315.50
1310.00
1304.75