Daily Commentary and Analysis

As we have been expecting, gold decisively moved up and reached as high as 671 on last Friday. Current daily trend indicators have been turning blue since Friday and short term indicators are also bullish at the time of analysis.

Current near term resistance will be around 672 and support will be around 667. Short/Medium term resistance will at 677~679 and support at 663.

Current trend is bullish at the time of analysis. Key levels to watch are 672 as a resistance area and 667 as a support.

Possible upside target can be around 677~679 and downside target would be around 667 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

p.s if you are interested in learning some analytical techniques for FREE, please visit Elliottwave page on my website.