Daily Commentary

 

Gold found strong resistance at 657 and reversed. Range between 649 and 661 could also be seen as a trading range.

Current near term strong support area would be at 651~650 and strong resistance will be around 659. Short /Medium term resistance will be around 665 and support will be around 645.

Current trend is slightly bullish at the time of analysis. Key level to watch are 650 to downside and 657 to upside. Possible upside target can be around 661 and downside target can be around 645.

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.

 

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