Morning repor

Gold is still obtaining a continuous support around 920.00areas and as shown on the above chart that the price is trapped in a very tight range during the Asian session claiming that its building a technical base whereas it will move upside depending on the hourly harmonic bullish pattern with a potential reversal zone around (916.00-920.00) areas appearing on the left side of our image while MA’s of RSI , stochastic positive overlapping and MACD traditional on the main 4h chart support the positive overview on the intraday basis as far as $900.00 per ounce remains intact.

The trading range for today is among the key support now at 892.00 and key resistance now at 974.00.

The general trend is to the upside as far as 820.00 remains intact with targets at 1035.00 and 1060.00.












Support920.00916.00912.00907.00900.00
Resistance930.00 935.00 945.00 956.00 963.00

Recommendation

According to our analysis, we believe that it is good to buy gold at 925.00 with targets at 955.00 and stop loss at 900.00