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Short term outlook on GOLD

Support 1: $1078

Support 2: $1072

Support 3: $1066

Current Rate - $1085

Resistance 1- $1087

Resistance 2- $1092

Resistance 3- $1102

Commentary:

Gold's major support falls at 1072 and daily close below this level opens the new trading range of 1066-1082.

Alternatively, reversal from that major support brings the pair towards 1092 level again.

Short Term Call: Sell between $1087-1090

Stop Loss- $1092

Take Profit- $1078

Prefer to take range bound trading movement between $1074-1092 levels.

 

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