First of all, we recommend reviewing the previous report to get an idea about the decisive point that separates between the bearishness and the bullishness. Second, we remind you that the bearish harmonic AB=CD pattern appearing on the chart is still in progress, while stabilizing above 28.85 and 29.05 is positive and a break of theses area will be negative. Thereby, our outlook is neutral over intraday basis.
The trading range for today is among the key support at28.05 and key resistance now at 30.00.
The general trend over the short term basis is to the downside targeting $ 22.95 per ounce as far as areas of 29.80 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.|