ការវិភាគបែបបច្ចេកទេស

By taking a deeper look at the daily chart from a pure harmonic point of view, we witness that the metal succeeded in forming a bearish harmonic AB=CD pattern that has been completed earlier at 1424.00 zones. Currently, gold is facing 23.6% of its CD leg around 1362.00, where a daily closing below it will send it towards the scientific technical objective of 1320.00- 38.2% Fibonacci of CD leg-. As far as trading remains below 1380.00-1385.00, the potential bearishness will be in favor.

The trading range for today is among the key support at 1320.00 and key resistance now at 1395.00.

The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1465.00 remain intact.

Support ​​​​​​    1362.00 1355.00 1350.00 1339.00 1330.00
Resistance 1372.00 1380.00 1385.00 1395.00 1406.00
Recommendation Based on the charts and explanations above our opinion is, selling gold around 1368.00 targeting 1320.00 and stop loss with a daily closing above 1385.00 might be appropriate.