Daily analysis of Gold for March 08, 2018

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Overview

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