Daily Commentary and Analysis

Gold has been trading in a range for several days by now. All the indicators are mixed at the time of analysis. Most of investors would be waiting for FOMC rate decision on 28-June.

Current near term support will be around 648 and resistance will be around 652~654. Short/Medium term support around 645~643 and resistance will be at 657~660.

Current trend is bearish at the time of analysis. Key levels to watch are 652 as a resistance and 648 as a suppport.

Possible upside target can be around 657~660 and downside target would be around 645~643 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

Technical Trading and Fibonacci

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