Daily Commentary
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As I expected earlier last week, gold is signalling a potential reversal. Some of my indicators on the daily charts are showing potential upside movement.

Current near term strong support area would be at 650 and resistance will be around 661. Short/Medium term resistance will be around 665 and strong support will be around 647.

Current trend is bullish at the time of analysis. Key levels to watch are 650 to downside. Possible upside target can be around 660.

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.

 

If you are intested in studying historical price data for gold, silver, forex, and US stocks, etc, you can download in CSV format from Trading Tools>Market Information page.

I have also posted the signals on my main web site in the individual chart page.

For subscription based analysis sample, you can find it in "Samples" page of my main website.

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