Mid-day report

Gold declined sharply, activating our captured shooting star bearish scenario which has been confirmed yesterday. The metal is to move downwards more, supported by the duplicated harmonic structure, targeting 972.00 areas in order to retest the triangle's broken resistance. RSI 14 is still moving in overbought areas despite the mentioned decline.

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.



Support984.00977.00972.00966.00956.00
Resistance992.00996.001002.001007.001012.00
RecommendationOur mornig expectation is still valid