Overview
The gold price touched our awaited target at $1,249.94 and showed bullish rebound from there. The price is likely to regain the main bullish trend after the correctional decline that prevailed in the dynamic since touching the recently recorded top at $1,375.00. Stochastic shows clear positive signals on the four-hour time frame. Therefore, the bullish bias are expected in the upcoming sessions unless a break of $1,249.94 levels that will push the price to target $1,211.31 levels mainly. Awaited positive targets begin by a breach of $1,297.74 level to confirm the rise continuation on the short- and mid-term basis. The expected trading range for today is between the $1,240.00 support and $1,285.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com