Gold settles back at the middle of the overall sideways range, as price retested the 50 percent retracement for the latest bullish wave at 1306.00, a break below this support should confirm the continuation of the bearish wave, probably towards the ascending support of this range. Overall, the bearish bias is favored for the week.
Short Term trend: Sideways
Intraday Bias: Sideways
Support 1311.00 1306.00 1300.00 1294.00 1286.00
Resistance 1318.00 1325.00 1336.00 1340.00 1346.00
Recommendation Short below 1325.00, targets at 1318.00,1311.00 and 1306.00. Stop loss above 1336.00


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