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Daily analysis of Gold for March 10, 2016

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Overview

The gold price is trading steadily above 1,241.80 levels, thus keeping the bullish trend scenario valid and active for today. A breach of the critical resistance at 1,262.23 represents the key extension of the bullish wave towards 1,300.00. In general, we still expect the bullish trend on the intraday and short-term bases conditioned by holding above 1,241.80 and, most important, above 1,212.34 levels.The expected trading range for today is between 1,235.00 support and 1,280.00 resistance.The material has been provided by InstaForex Company - www.instaforex.com