Gold price managed to settle with a daily close above $1,263.17 that will confirm breaching this level and the continuation of the bullish bias. Traders are waiting for more of gains in the short term. Therefore, the bullish trend will remain preferred in the upcoming period, supported by the EMA50. It keeps carrying the price from below. Be aware that breaking $1,263.17 and later $1,256.50 might push the price to visit the main bullish channel’s support at $1,225.00 before any new attempt to rise. The expected trading range for today is between $1,263.00 support and $1,295.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold price managed to settle with a daily close above $1,263.17 that will confirm breaching this level and the continuation of the bullish bias. Traders are waiting for more of gains in the short term. Therefore, the bullish trend will remain preferred in the upcoming period, supported by the EMA50. It keeps carrying the price from below. Be aware that breaking $1,263.17 and later $1,256.50 might push the price to visit the main bullish channel’s support at $1,225.00 before any new attempt to rise. The expected trading range for today is between $1,263.00 support and $1,295.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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