The solid resistance around 1665.00 has forced the metal to decline activating an obvious negative crossover on Stochastic as seen on the provided daily chart. Henceforth, the CD leg of the suggested harmonic Bat pattern is still valid as far as B point holds. A break of 1628.00 will confirm the bearishness proposed for this week while clearings 1603.00 will accelerate declines and will change the positivity of Vortex indicator.

The trading range for this week is among the key support at 1559.00 and key resistance now at 1703.00.

The general trend over the short term basis is to the upside, targeting $ 1945.00 per ounce as far as areas of1475.00 remain intact with weekly closing.

Previous Report

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)