The downside trend for today is expected to continue but beware of fluctuations in the market after this fall where it could prolong for the next two days. However, gold is still in an ascending channl where it must breach the key support for the channel before declining and we know that will not be witnessed unless the metal creates a new technical reversal pattern. From here we expect to see today the chance to reach 838.80 and 830.80 is big where after that gold will experience high volatility. We shouldn't forget that the downside trend expected is a reversal in the trend and will not be offset unless we see a breach of the 890.55 level on the four hour chart.

The trading range for today is among the key support at 820.90 and the key resistance at 890.55

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

Resistance858.20 866.95 879.20 888.50 890.55