The gold price shows new attempts to breach the key resistance 1,231.13, as the price gets positive momentum impacted by the positive overlapping signal provided by stochastic. The price is likely to breach the mentioned level to confirm the bullish wave extension to 1,263.17 as the next main station. Therefore, the bullish bias will remain suggested for the rest of the day unless breaking and holding below 1,211.30. The EMA50 keeps supporting the suggested bullish wave. The expected trading range for today is between the 1,211.30 support and the 1,240.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The gold price shows new attempts to breach the key resistance 1,231.13, as the price gets positive momentum impacted by the positive overlapping signal provided by stochastic. The price is likely to breach the mentioned level to confirm the bullish wave extension to 1,263.17 as the next main station. Therefore, the bullish bias will remain suggested for the rest of the day unless breaking and holding below 1,211.30. The EMA50 keeps supporting the suggested bullish wave. The expected trading range for today is between the 1,211.30 support and the 1,240.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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