Gold fell below the $880 per ounce level in movements returning it back to show neutral movements once again noting that a strong support is located in a range between $872 - $875. Technical indicators started to show that the metal is oversold and in order for it to reverse profit taking must be seen and indicators adjusting.
The trading range is among the key support level at 872 and the key resistance level at 899.00.
The general trend is to the upside as far as 810.00 remains intact; targets are set at 1080.00 and 1170.00.
|Buy gold above $875.00 with a target at $888 stop loss below $971|