Gold yesterday rallied in the downside direction with high levels of volume to break the major support level at 970.00 reaching the key support level in the downside at 961.90s. The metal then managed an upside move to return to the opening level showing a neutral pattern. Today we expect gold to progress in the upside direction as well.

The trading range for today will be between the key resistance at 1000.00 and the key support at 950.00.

The general trend is up as far as 810.00 remains intact targets now at 1000.00 and 1170.00.












Support968.40965.75962.25959.80956.35
Resistance972.65 975.00 977.40 979.50 983.00

Recommendation

We expect buying gold above 968.00 with a target at 985.00 stop loss below 958.00