Finally, the downside channel is being created on the intraday charts where it is expected to continue if the metal remains trading below the key support for the sideways correction which is at 746.45 while the 754.85 level is confirming the downside. If trading remains below the 720 psychological barrier, this will result in further declines.

The trading range for today is among the key support at 672.90 and the key resistance at 777.50.

The general trend is to the downisde as far as 934.00 remains intact with targets at 649.20 and 615.60.