Morning report

Gold respected our expected technical bullish scenario which we explained in our mid-day report yesterday (check here) and it could move steadily above 950.00-952.00 areas which became the cluster support zones for intraday basis and now more incline is still in favor as far as 930.00 remains unbroken particularly if gold succeeded to breach 973.00 clearly. Today's outlook is to the upside supported by the Gator bullish continuous signal as well as stability above ICHIMOKU cloud.

The trading range for today is among the key support now at 925.00 and key resistance now at 1017.00 level.

The general trend is to the upside as far as 856.00 remains intact with targets at 1035.00.

Resistance977.00 988.00 996.00 1000.00 1017.00


According to our analysis, we believe that it is good to buy gold with a four hour close above 973.00 with targets at 995.00 and stop loss with a four hour close below 957.00.