Gold was sold off deeply at 672 although I expected the sell-off around 674.

Current near term support area would be at 658. Short term strong resistance will be around 663 and support will be around 651~648.

Current trend is bearish at the time of analysis. I also believe that market is signalling a sell-off. Current daily indicators are showing a trend reversal. Key levels to watch are 665 to upside and 658 to downside. Possible downside target can be around 651 and upside target will be around 668.

Good Luck!

Thanks for listening!

Gold Trader

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