The metal is still carried above Parabolic SAR indicator, but the negativity still appears on AROON, while TEMA 20 -colored in blue- is covering it. This contrarian between signs forces us to stay aside for the rest of the day; noting that breaching 1825.00 will be a very positive indication and will bring strong upside wave due to the Elliott count. On the other hand, breaching through 1785.00 will change the positive scenario.
The trading range for today is among the key support at 1755.00 and key resistance now at 1867.00.
The general trend over the short term basis is to the upside targeting 1945.00 per ounce as far as areas of 1475.00 remain intact with weekly closing.
| Support | 1800.00 | 1785.00 | 1772.00 | 1761.00 | 1755.00 |
| Resistance | 1815.00 | 1825.00 | 1833.00 | 1845.00 | 1855.00 |
| Recommendation | Based on the charts and explanations above our opinion is staying aside until an actionable setup presents itself to define the upcoming big move. | ||||
Please see the attached chart below...