Gold price begins today’s trading with a slight bullish bias after the decline that we witnessed yesterday. The upward bias has been spurred by the positive signal provided now by stochastic. The price is waiting to rally to 1,335.40 followed by 1,342.00 levels to confirm a further bullish trend on the intraday and short-term basis, so our next main target is located at 1,365.97. Therefore, we still suggest the bullish trend in the short term unless we witness a clear break and the price holds below 1,316.48. The expected trading range for today is between 1,315.00 support and 1,342.00 resistance.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Hossam Soliman Ali,
InstaForex Group © 2007-2018
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.