Daily analysis of Gold for March 05, 2018

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Overview

Gold price is trading higher in the pre-market today. The price is set to surpass the EMA50 and settle above it that supports the continuation of the bullish trend on the intraday basis. The way is open to visit 1,335.40 level that represents our next target. Please note that breaching this level will extend gold price gains to reach 1,365.97 as the next upward target level. Therefore, the bullish trend remains valid in the upcoming sessions unless 1,316.48 is broken and the price holds below it. The expected trading range for today is between 1,316.00 support and 1,340.00 resistance.

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