Daily analysis of Gold for April 03, 2018

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Overview

The Gold price provided clear positive trades yesterday to breach 1335.40 level and settles above it, which reactivates the bullish trend scenario on the intraday and short term basis, targeting visiting the recently recorded top at 1365.97 as a first main station. Therefore, we will be waiting for positive trading for today supported by the EMA50 unless breaking 1335.40 level and holding below it, as breaking this level will push the price to visit 38.2% Fibonacci correction level at 1316.48 again. The expected trading range for today is between 1325.00 support and 1350.00 resistance.

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