Mid-day report

Gold has inclined above the psychological level of 1000.00 during the previous session, but actually a recently captured duplicated harmonic pattern signals that the metal may collapse downwards anytime, as momentum indication show a definite negative signal, while it faces the full correction level at the same time. Hence, a pullback is awaited over intraday and short term basis, targeting 972.00 zones.

The trading range for today is among the key support now at 942.00 and key resistance now at 1035.

The general trend is to the upside as far as 820.00 remains intact with targets at 1035.00 and 1060.00.

RecommendationOur mornig expectation is still valid