Daily analysis of Gold for April 20, 2018

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Overview

Gold price is showing a calm decline to test the key support of 1,335.40, accompanied by stochastic reach of the oversold areas. This provides positive impetus that is expected to push the price to rise again and resume the main bullish trend. Therefore, the bullish trend will remain valid for the nearest sessions, conditioned by the price stability above the mentioned support. Please note that our positive targets begin at 1,365.97 and extend to 1,400.00 after breaching the previous level. The expected trading range for today is between 1,330.00 support and 1,360.00 resistance.

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