Daily Commentary and Analysis

Gold found support at 643 area yesterday. Although current daily trend is down, short term indicators are showing some strength at the time of analysis.

Current near term resistance will be around 654 and support will be around 649. Short/Medium term resistance is around 658~659 and support will be at 645.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 654 as a resistance/breakout area and 649 as a strong support. Staying above 650 is a sign of price movement towards 659 level.

Possible upside target can be around 659 and downside target would be around 645 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

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