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Daily analysis of GOLD for April 19 2016

GOLDDaily.png

Overview

Gold price rallied higher strongly to breach the 1,237.25 level and settle above it. This supports continuation of our bullish trend expectations in the upcoming period. Therefore, the bullish bias will remain preferred on the intraday and short-term basis unless the price breaks the 1,227.40 level and holds below it.The way is open towards 1,282.92 and 1,300.00 levels initially.

The expected trading range for today is between the 1,215.00 support and the 1,260.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com