The shiny metal did not yet break the 874-72 last strong supports before it changes the intermediate trend from up to neutral. Since the metal is overbought there are still no clear signs that its going to start climbing back up from here, so we need to watch those levels carefully, and buy any dips around it with tight stops to be on the safe side.
The trading range is among the key support level at 872 and the key resistance level at 890.00.
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 with a target at 887 and a stop loss below 871.50.|