Gold was just in our near term trading range between 677~682 yesterday. Current trading range is quite narrow and potentially, we can expect a strong move on either side. But based on daily indicators and short term indicators, current price is showing a weakness in the current uptrend.

Current near term support will be around 676 and resistance area would be at 681. Short/Medium term strong support will be around 671~670 and resistance will be at 684.

Current trend is slightly bearish at the time of analysis. Key levels to watch are 677~676 to downside and 681~682 as a strong resistance area. Possible downside target can be around 670~667 and upside target would be around 684~685 if near term support and resistance levels are violated.

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Good Luck!

Thanks for listening!

Gold Trader

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