Gold is still respecting our expected bearish scenario which we mentioned in our mid-day report yesterday as it's moving around 901.00 areas represented by the lower line of the diagonal as shown on the chart. A decisive break of which will confirm this expectation based on settling below the golden ratio of Fibonacci 161.8% at 907.00 besides TEMA and GATOR negative signals. TEMA indicator value is now at 897.00
The trading range for today is among the key support now at 856.00 and key resistance now at 945.00 areas.
The general trend is to the downside as far as 934.00 remains intact with targets at 649.20 and 615.60
|Sell gold with a four hour close below 896.00 with targets at 880.00 as a first target followed by 873.00 and stop loss with a four hour close above 912.00|