Morning Report Gold is still targeting 76.4% Fibonacci of CD leg at 1395.00 zones after touching the second technical target of the butterfly pattern earlier as we anticipated before. Stability above 1380.00-the second technical objective of the harmonic pattern- suggests that the first extended technical target is presently under microscope. Stochastic shows overbought sign but without any sign of divergence. Henceforth, the bullishness may dominate today's trading. The trading range for today is among the key support at 1354.00 and key resistance now at 1413.00. The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1485.00 remain intact. Previous Report Weekly Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
