Daily Commentary and Analysis

Gold was just traded within a tight trading range on Monday. Current daily trend and short term indicators are bullish at the time of analysis. However, gold is in overbought condition in the short term charts.

Current near term resistance will be around 674 and support will be around 671. Short/Medium term resistance will at 677~679 and support at 667~665.

Current trend is slightly bullish at the time of analysis. Key levels to watch are 673~674 as a strong 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

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