Gold strongly broke out of 662 and closed higher on Friday. Based on my indicators, gold is in strong bull run. But we might have to be aware that 669~670 area is a strong resistance area and gold never closed above 670 in last 9 months.

Current strong resistance area would be at 669. Short term support will be around 663 and resistance will be around 672~674.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 663 to downside and 669 to upside. Possible upside target will be around 669 and downside targets will be around 650~657.

Good Luck!

Thanks for listening!

Gold Trader

p.s 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