Gold still holds above the support of 2350-70 which we predicted. If prices hold above this support, another advance toward 2480 could hit the market.
However, as we see on the Intraday chart, the market is facing a triangle formation between the support 2382 and resistance 2400.
Above 2400 more advance will be expected with resistance around 2418, while above this resistance, a further advance toward 2450-60 will be expected.
Below 2382, more of a drop to re-test the 2350-70 zone could hit the market.
Below 2350, more of a drop toward 2305-10 is likely.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 2382 | 2400 |
| LEVEL2 | 2350-70 | 2418 |
| LEVEL3 | 2305-10 | 2450-60 |
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