Overview
The gold price has been trading sideways since morning settling above the bullish trend line. Stochastic shows positive signals on the intraday time frames, which supports the continuation of the bullish trend scenario for the rest of the day, depending on the stability above 1,227.40 levels. We target 1,282.92 followed by 1,300.00 areas initially. Therefore, these factors reinforce our expectations of the bullish trend continuation on the intraday and short-term bases, which targets 1,282.92 followed by 1,300.00 levels mainly. Holding above 1,227.40 levels depends on achieving these targets.
The expected trading range for today is between the 1,235.00 support and the 1,282.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com