As we have been anticipating and warning about a sharp sell-off, gold fell deeply again yesterday. Current daily trend indicators are becoming bearish.

Current near term support will be around 671~672 and resistance area would be at 677~678. Short/Medium term strong support will be around 667~663 and resistance will be at 682.

Current trend is bearish at the time of analysis. Key levels to watch are 671 to downside and 678 as strong resistance. Possible downside target can be around 662 and upside target would be around 678 if near term support and resistance levels are violated.

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Good Luck!

Thanks for listening!

Gold Trader

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