Gold forms a Bullish Pattern.

Gold has formed a Bullish Pattern.
Has been a Good day for Gold/Silver after Playing in tight ranges for many days.
Gold lies at the resistance level 645/47 level range.
Short term support is Eyed at around 639 level range.

Technically Gold should take a slight dip, due to Gold being OverBought, due to Closing of Many Short Holding Positions, as one of our colleagues in COMEX mentioned.

We could see Gold to come around 638/640 level range.
Crossing that would drop it 632 level range.

Dollar is currently in Weakness.

Gold currently Stablizing, and Playing in tight up and down range 645/647 level.
Asia, normally plays in tight ranges, Liquidity is currently low in Asia trading hours.

However, a Favourable News and Data for Commodities, shall rally the price and cross the 650/652 next resistance.
A Push in Crude Oil Prices, and further weakness in Dollar would support the price.

It is Advicable to Keep Eyes Open this week and next week, due to many datas coming out, And Heavy Market reaction information, that could create a Big Movements in Prices.

We will Advice further, as any Directional sentiment changes.