SINGAPORE: Spot gold is neutral between $1,653 and $1,684 per ounce, and an escape from the range is needed to point a direction.
A fall below $1,653 will immediately open the way towards $1,625.09, an hourly chart low touched on Oct. 7, while a surge above $1,684 will extend to $1,705.
The upside will not be limited to $1,705, as a rise to $1,684 will confirm a bigger range of $1,596-$1,677 to be bullish, with a target established at $1,758 over the next few trading sessions.
No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
Comments
Comments are closed for this article.