Gold inclined respecting the previous discussed harmonic crab pattern, which is awaited to affect the movements during the coming period. As far as trading remains above 1380.00-1372.00, the bullish wave could continue targeting 1430.00 zones, which represent 161.8% Fibonacci projection of XA leg for the harmonic formation. Stochastic continues showing bearish sign and that makes us repeat our words; "1372.00 should hold".
The trading range for this week is among the key support at 1330.00 and key resistance now at 1430.00.
The general trend over the short term basis is to the upside, targeting $ 1430.00 per ounce as far as areas of 1120.00 remain intact
Support 1385.00 1380.00 1372.00 1365.00 1350.00 Resistance 1395.00 1400.00 1406.00 1412.00 1425.00
Recommendation Based on the charts and explanations above our opinion is, buying gold around 1385.00 targeting 1430.00 and stop loss with a daily closing below 1372.00 might be appropr
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