Daily Commentary

As some of my indicators have been showing, gold was rejected from 675 level yesterday. Current daily trend and short term trend are bearish at the time of analysis. However, gold is testing a strong support at 665.

Current near term support will be around 665~664 and resistance will be around 669~670. Short/Medium term resistance will at 674 and support at 660.

Current trend is bearish at the time of analysis. Key levels to watch are 665 as a strong support and 669 as a strong resistance.

Possible upside target can be around 675~679 and downside target would be around 660~659 if near term support and resistance levels are taken out.