Gold was in a trading range yesterday and approached daily resistance at 649. Some short term indicators are indicating a strength at current price.

Current near term strong support area would be at 642~640 and resistance will be around 648. 641~648 would probably become a potential trading range. Short /Medium term resistance will be around 653~655.

Current trend is slightly bullish for the day at the time of analysis. Key level to watch is 641 to downside. Possible upside target can be around 653~655 and downside target can be around 638. I believe that downward movement will be limited today.

Good Luck!

Thanks for listening!

Gold Trader

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