Daily Commentary and Analysis

Gold found a support around 656 on Friday and rebound. Daily trend is still in the downtrend and short term indicators are mixed at the time of analysis.

Current near term support will be around 660~659 and resistance will be around 663. Short/Medium term resistance will at 667 and support at 655.

Current trend is neutral at the time of analysis. Key levels to watch are 664 as a resistance/breakout level and 659~656 as a strong support.

Possible upside target can be around 667~670 and downside target would be around 655 if near term support and resistance levels are taken out.

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DailyCom