Gold was sold off again yesterday. Current daily trend is becoming mixed and short term indicators are bearish at the time of analysis. Today, BOE and ECB will be announcing GBP and EUR interest rate. (Please check the economic calendar on www.globalmarketwatch.biz)

Current near term support will be around 676 and resistance area would be at 681~682. Short/Medium term resistance will be around 689~693 and support will be at 673.

Current trend is bearish at the time of analysis. Key levels to watch are 676 and 673 as a strong support and 682 as a resistance/breakout level to upside. Possible downside target can be around 673~670 and upside target would be around 689~692 if near term support and resistance levels are taken out.

P.s. I occasionally post daily charts with indicators on my main website. You can see some indications of trend change on the charts.

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Good Luck!

Thanks for listening!

Gold Trader

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