Daily Commentary and Analysis

As I have been expecting, 673~674 has been a strong resistance and gold was rejected from the resistance area. Although current daily trend is still up, short term indicators are showing the weakness in current uptrend.

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 665~664.

Current trend is slightly bearish at the time of analysis. Key levels to watch are 672~673 as a strong resistance area and 665~666 as a support.

Possible downside target can be around 665 and upside target would be around 675~676 if near term support and resistance levels are taken out.

Thanks for listening

Good luck

DailyCom

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