Overview
The gold price traded with clear positivity yesterday settling near 1,250.00 and reinforcing the continuation of the bullish trend scenario on the intraday and short-term bases. The price is likely to head towards 1,282.92 then 1,300.00 levels that represent the next main targets for the current bullish wave. Stochastic current negativity might cause temporary sideways fluctuations before gaining enough positive momentum to push the price to the upside again. Holding above 1,227.40 levels represents an important condition for the continuation of the expected bullish trend.
The expected trading range for today is between the 1,235.00 support and the 1,280.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com