Gold spot recently formed a new low around the $3207.90 per ounce level. Following some profit-taking, it rebounded and reached a high near the $3265.45 per ounce range during the morning European sessions today.
My Intraday View:
Consider selling around the 3265–3270 zone.
Set a stop-loss at 3295.
Watch for the following downside targets:
Target 1: 3235
Target 2: 3220
Target 3: 3200
Aim for Target 1 before the U.S. market opens today, then let the rest of the position ride if momentum continues.