The precious metal succumbed to negative pressures as technical indicators continue to signal for bearish biases. Stochastic readings have illustrated for overbought price levels. A continuation of the negative trend scenario will see gold prices test key trend line support of 1520.00 and 1480.00 by extension. Gold prices must break above key resistance level of 1550.00 for a resumption of the uptrend in the near term.
Today’s Trading Range for Gold:
Key Resistance Level (1) & (2): 1550.00 & 1565.00
Key Support Level (1) & (2): 1520.00 & 1480.00