Gold during the last period rallied towards the upside direction in a very strong move after it created a bullish channel to hit the upper band of the increasing channel at 914.20s failing to break it to generate downside correction movements until the major support levels at 870.00. The step ahead for gold could be towards the downside in form of correction movements to gather enough momentum to reverse back to the upside again at 925.00.

The trading range for today will be between the key resistance at 900.00 and the key support at 850.00.

The general trend is up as far as 810.00 remains intact targets now at 960.00 and 1000.


Resistance882.81 885.58 889.28 892.06 895.75


We expect buying gold above 880.00 with a target at 890.20, stop loss below 874.50.