The outlook has grown increasingly bullish since GOLD had remained above its latest swing low at (1648.83). If this support level is broken to the downside, the outlook will deteriorate.

We see high chances of the pair move in a range between (1670.09 – 1642.62). A proper move above (1670.09) confirms a probable rally towards (1701.03). However, if GOLD manage to close below (1642.62) will support a call for bid tone.

Strength in GOLD is likely to continue. We see a less chances of an immediate fall on the instrument for short-term technical outlook. Next upside barriers follow (1665.89) at (1679.72) and (1691.82).

We prefer upside scenario at this phase. Since bias is bullish in nearest term targeting (1682.87). Another move back below (1510.52) could lead us to neutral zone.

We prefer upside scenario at this phase. Since bias is bullish in nearest term targeting (1666.17). Another move back below (1510.52) could lead us to neutral zone.

GOLD general trend is to the upside. Break below (1510.52) may trigger further fall of the GOLD. Going above nearest support level at (1643.96), however, would confirm continuation of the bullish trend, towards next objective upwards (1673.08).

We see better value in short positions. If the price will go below the first support at (1524.52), this would confirm continuation of the bearish trend, towards next objective downwards (1504.30) then (1485.98) and (1465.76) will follow.

We prefer a downside scenario at this phase. Since bias is bearish in nearest term targeting (1522.70). Another move back above (1593.08) could lead us to neutral zone.

Weakness in GOLD is likely to continue. We see a less chances of an immediate rise on the instrument for short-term technical outlook. Next downside barriers follow (1585.90) at (1578.89) and (1568.29).

We prefer a downside scenario at this phase. Since bias is bearish in nearest term targeting (1587.50). Another move back above (1678.30) could lead us to neutral zone.