Daily Commentary and Analysis

Gold was sold off yesterday at a resistance level around 662. Current daily trend is up and some short term indicators are mixed at the time of analysis.

Current near term support will be around 652~650 and resistance will be around 656. Short/Medium term resistance around 659~662 and support will at 650~648.

Current trend is slightly bearish at the time of analysis. Key levels to watch are 656 as a resistance/breakout towards 660 area and 652~650 as a strong support.

Possible upside target can be around 660~662 and downside target would be around 650~648 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

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