After gold broke 689 clearly, it reached around our anticipated target range at 694 on Friday. Overall daily trend remains extremely bullish. But some short term indicators are becoming bearish. We might have to be aware of a sharp sell-off around this area.

Current near term resistance will be around 695 and support area would be at 688. Short/Medium term strong resistance will be around 697~700 and support will be at 682.

Current trend is neutral at the time of analysis. Key levels to watch are 688 to downside and 695 to upside. Possible downside target can be around 685~682 and upside target would be around 697~700 if near term support and resistance levels are violated.

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Good Luck!

Thanks for listening!

Gold Trader

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