After breaking 660 level on Friday, gold was dramatically lower. Based on the above indicators, overall trend is in strong downtrend.

Current near term strong resistance area would be at 648 and strong support will be around 638. Short /Medium term support will be around 633~628.

Current trend is slightly bearish at the time of analysis. Key levels to watch are 648 to upside and 638 to downside. Possible downside target can be around 633 and upside target will be around 657.

Good Luck!

Thanks for listening!

Gold Trader

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