XAUUSD
Like our analysis yesterday, GOLD is trying to break through support 1660 again after being unable to get out of the sideway range 1660 - 1678. The downtrend still looks quite strong at Loco so support 1660 becomes the support to determine whether GOLD can continue to fall or will be stuck in this sideway range until it breaks out occur.
We are waiting for the support at 1660 to be broken before looking for a good SELL entry position.
R3 1685.570
R2 1678.300
R1 1668.290
PV 1659.800
S1 1646.100
S2 1628.440
S3 1616.870
Like our analysis yesterday, GOLD is trying to break through support 1660 again after being unable to get out of the sideway range 1660 - 1678. The downtrend still looks quite strong at Loco so support 1660 becomes the support to determine whether GOLD can continue to fall or will be stuck in this sideway range until it breaks out occur.
We are waiting for the support at 1660 to be broken before looking for a good SELL entry position.
R3 1685.570
R2 1678.300
R1 1668.290
PV 1659.800
S1 1646.100
S2 1628.440
S3 1616.870