The gold price has been showing sideways and tight-range trading above 1,345.80 since morning. Therefore, our bullish trend expectations remain valid for today, supported by the positive overlapping signal that comes from stochastic now, looking to head towards 1,400.00 that represents the next main target. In general, we still expect the bullish bias in the upcoming period conditioned above the 1,345.80 level. A break of this mark represents a negative factor that will push the price to test the most important support for the short- term trading at 1,303.58 before any attempt to rise.
The expected trading range for today is between the 1,350.00 support and the 1,400.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The gold price has been showing sideways and tight-range trading above 1,345.80 since morning. Therefore, our bullish trend expectations remain valid for today, supported by the positive overlapping signal that comes from stochastic now, looking to head towards 1,400.00 that represents the next main target. In general, we still expect the bullish bias in the upcoming period conditioned above the 1,345.80 level. A break of this mark represents a negative factor that will push the price to test the most important support for the short- term trading at 1,303.58 before any attempt to rise.
The expected trading range for today is between the 1,350.00 support and the 1,400.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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