Daily Commentary

 

Again, gold tested the strong support at 656 yesterday. Daily uptrend remains up and short term indicators are indicating a slight bullishness.

Current near term support will be around 662 and resistance area would be at 669. Short/Medium term resistance will be at 673 and support will be around 658.

Current trend is slightly bullish at the time of analysis. Key level to watch is 661 to downside. Possible upside target would be around 673 and downside target can be around 658 if near term support and resistance levels are violated.

P.s. Click here for samples detailed analysis.

Good Luck!

Thanks for listening!

Gold Trader

p.s We are arranging to give away some classic Robert Prechter's Elliott Wave Principle Books. More information will be posted on our main website soon.

 

If you are intested in studying historical price data for gold, silver, forex, and US stocks, etc, you can download in CSV format from Trading Tools>Market Information page.

I have also posted the signals on my main web site in the individual chart page.

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