Yesterday's explained duplicated hourly bearish harmonic pattern has been completed around 1066.00 zones as seen on our provided chart. The potential reversal zone [D] of the pattern has been capable of forming a heavy negative divergence as seen on OsMA and RSI 9 indicators, accompanied by negative candlestick structure. Therefore the intraday overview is to the downside, targeting 1054.00 followed by 1046.00 areas
The trading range for today is among the key support at 1011.00 and key resistance now at 1100.00.
The general trend is to the upside as far as 865.00 remains intact with targets at 1129.00.
Support: 1058.00, 1053.00, 1047.00, 1042.00, 1037.00
Resistance: 1066.00, 1068.00, 1070.00, 1074.00, 1080.00
Recommendation: Based on the charts and explanations above our opinion is, selling gold from 1064.00 targeting 1048.00 and stop loss above 1075.00 might be appropriate.
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