Gold looks to confirm the range of 1590 and confirming it as the Resistance in which gold traded directly violate Support plummeted in 1575 to 1553 range in the morning session today.
Momentum Bias and gold in the morning session today is bearish, which support the range of visible gold in 1550 for this moment and was followed in 1540 as the previous cancel.
If gold continues to weaken traded up to a range and below 1540 then gold will be potentially traded down to the 1530 range support.
Wherever GOLD traded points with 5:10 Range ie 25% of the Average Range 20.62 points and traded down -0.25% to +0.01% High and Low -0.32% from the closing traded yesterday.
Resistance Intraday 1560 -1575
Support Intraday 1550 – 1540
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