As most of the indicators signalled the weakness yesterday, gold fell to our strong support level around 671 and retreat. Daily indicators are still in downtrend but some short term indicators are slighly mixed at the time of analysis.

Current near term support will be around 672 and resistance area would be at 675. Short/Medium term strong support will be around 667 and resistance will be at 679.

Current trend is neutral at the time of analysis. Key levels to watch are 675 to upside, 671 to downside and 679 for a strong breakout/selling area. Possible upside target can be around 679~683 and downside target would be around 667~665 if near term support and resistance levels are taken out.

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Good Luck!

Thanks for listening!

Gold Trader

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