The provided chart shows how far is the contrarian between Stochastic of four-hour interval-secondary image-, which offers overbought sign and Stochastic of the daily basis-main image-, which shows oversold sign. Thus; our overview is neutral over intraday basis until a clear sign appears. Actually, we can say that the bearish classical pattern which we discussed several times is in real need for a sharp breakout below its neckline to be activated.
The trading range for today is among the key support at 17.60 and key resistance now at 18.65.
The general trend over the short term basis is to the upside, targeting $ 21.50 per ounce as far as areas of 16.20 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until a clear sign appears to pinpoint the upcoming big move.|