As we have been anticipating, gold was sold off deeply at our strong resistance area 691 yesterday and hit our downside target around 681 area. Current daily trend indicators are showing a weakness in current price and short term indicators are showing bearish signals.

Current near term strong resistance will be around 686 and support area would be at 681. Short/Medium term strong resistance will be around 689 and support will be at 675~672.

Current trend is slightly bearish at the time of analysis. Key levels to watch are 689 as strong resistance. Possible downside target can be around 675~672 and upside target would be around 689 if near term support and resistance levels are violated.

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Good Luck!

Thanks for listening!

Gold Trader

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