Gold fell yesterday in a very strong bearish pattern after it traded around the main support level at $784, marking the day's low; but then it reversed back to the upside narrowing the bearish body. This move affected the technical indicators to reflect the upside movements today.

The trading range for today will be between the key resistance at 814.00 and the key support at 784.00.

The general trend is up as far as 725.00 remains intact targets now at 850.00 and 885.00.



Resistance799.80 800.00 804.45 807.50 809.00


We expect buying gold above 791.50 with a target at 806.50, stop loss below 784.00