After gold broke 677 resistance, gold hit our upside target at 682 and retreat slightly. Daily trend and short term remain bullish. But I believe market is in a overbought condition and we would see some reactions.

Current near term support will be around 676 and strong resistance area would be at 680. Short/Medium term resistance will be at 686 and support will be around 670.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 680 to upside and 675 to downside. Possible upside target would be around 686 and downside target can be around 670~668 if near term support and resistance levels are violated.

P.s. Click here for samples detailed analysis.

Good Luck!

Thanks for listening!

Gold Trader

p.s We are arranging to give away some classic Robert Prechter's Elliott Wave Principle Books. More information will be posted on our main website soon.

If you are intested in studying historical price data for gold, silver, forex, and US stocks, etc, you can download in CSV format from Trading Tools>Market Information page.

I have also posted the signals on my main web site in the individual chart page.

For subscription based analysis sample, you can find it in "Samples" page of my main website.

For Elliott Wave International's Commentary, please visit here!

Trading Platform to trade gold, silver and forex => Click Here