Gold yesterday dropped in a very strong bearish pattern as it couldn't pass the major resistance level at 940.80 to hit the key support level at 916.00. The technical studies indicated to the downside direction for the gold today.

The trading range for today will be between the key resistance at 940.00 and the key support at 890.00.

The general trend is up as far as 810.00 remains intact targets now at 1080.00 and 1170.00.

Resistance926.30 930.10 934.20 940.80 943.90


We expect selling gold below 925.00 with a target at 895.00, stop loss above 940.00