The shiny metal has done a very good correction maybe aiming higher today till 881, which if breached might open the way again to above 900. The metal might as well play in a narrow range between 864 and 895 for a while as it lacks the strong momentum these days to break one of the sides. We still favor the bullish scenario for the shiny metal over the medium term.
The trading range is among the key support level at 864 and the key resistance level at 882.00.
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 871 with a target at 881 and a stop loss below 864.|