There have been several attempts to get out from the range trading areas but all failed. The suggested harmonic formation in morning report needs a confirmation via breaching 1372.00 levels, otherwise the bearish one of the weekly report will come back into focus. Hence, we hold onto our neutrality for the rest of the day.
The trading range for today is among the key support at 1300.00 and key resistance now at 1404.00.
The general trend over the short term basis is to the upside targeting 1400.00 per ounce as far as areas of 1120.00 remain intact.
Support 1350.00 1345.00 1339.00 1330.00 1320.00
Resistance 1365.00 1372.00 1385.00 1388.00 1395.00
Recommendation Based on the charts and explanations above our opinion is, staying aside until a clearer sign appears to pinpoint the upcoming big move.