Gold touched 952.00 old resistance areas, despite it represents the upper line of our diagonal and ended it by a bearish candlestick pattern but we think that it's just a normal correction to the clear upside wave. What encourages us to say that is the stability above the critical areas of 925.00-935.00 for more than 33 hours of trading, hence we still expect more incline today as far as (912.00-907.00) cluster support zones remains intact.
The trading range for today is among the key support now at 900.00 and key resistance now at 1000.00 psychological level.
The general trend is to the upside as far as 856.00 remains intact with targets at 1035.00.
|According to our analysis, we believe that it is good to buy gold with a four hour close above 945.00 with targets at 970.00and stop loss with a four hour close below 930.00.|