Gold has been ranging between 605 ~ 616 for a week now. There would be a potential breakout on either side of the market as volatility is becoming its lowest in the week.

Today support area is around 610~612 and near term resistance will be at 616. Short term resistance would be around 620~622.

Current trend is bullish at the time of analysis and we hope gold would hold support level at 612 and rebound to 620 area today.  On the other hand, there is also a potential bear flag is forming. If gold is traded below 610, it would indicate another selling towards 600 or even lower.

Key levels to watch today are 616 to upside and 610 to downside.

Good Luck!

Thanks for listening!

Gold Trader