Overview
Gold price shows positive trading now in attempt to regain its bullish track that stopped temporarily after yesterday's decline. Notice that stochastic begins to overlap positively on the 4-hour time frame. That supports the chances for the rise without the need to hit the level of 1,211.31. Therefore, we believe that there are chances for the continuation of the bullish trend in the upcoming period. The positive targets begin to breach 1,231.75 to confirm the way is opening towards 1,249.94. Take into consideration that the price failure to breach 1,231.75 level will put the price under negative pressure that targets testing 1,211.31 and might extend to 1,202.50 before any new attempt to rise. The expected trading range for today is between 1,211.31 support and 1,235.00 resistance.
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