Daily Commentary

Gold tested the strong support at 656 on Monday. Based on current daily trend and short term indicators, the recent deline has been weakening.

Current near term resistance will be around 666 and support will be around 661. Short/Medium term resistance will at 669~670 and support at 658.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 666 as a breakout level and 660~658 as a strong support.

Possible upside target can be around 669~673 and downside target would be around 658 if near term support and resistance levels are taken out.

Thanks for listening!

DailyCom