Today, the harmonic formation mentioned yesterday will be discussed, while the harmonic formation for the weekly report is still valid. The provided four hour chart suggests that more historical prices are under way as far as the trading remains above 1345.00 – B level-. On the other hand, the AB=CD pattern of the weekly report is valid as far as 1372.00 remains intact. Thereby, the neutrality is still in favor between 1345.00 and 1372.00. We recommend reviewing yesterday's report and the weekly report for more details.
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.
Resistance 1358.00 1365.00 1372.00 1385.00 1388.00
Recommendation Based on the charts and explanations above our opinion is, staying aside
until a clearer sign appears to pinpoint the upcoming big move.
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