Daily Commentary and Analysis

After violation near term support at 670, gold fell to 660 breaking daily chart trendline support at 665. Daily trend is again showing the downtrend and short term indicators are also bearish at the time of analysis.

Current near term support will be around 659 and resistance will be around 665. Short/Medium term resistance will at 673 and support at 656.

Current trend is bearish at the time of analysis. Key levels to watch are 665 as a resistance/breakout level and 659~656 as a support.

Possible upside target can be around 673 and downside target would be around 656 if near term support and resistance levels are taken out.

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Good luck

DailyCom