Gold price settles near 1285.00 after the price decline with the end of yesterday, while stochastic approaches from the oversold levels, to provide a positive motive that we expect to lead the price to resume the main bullish trend, organizes within the bullish channel that appears in the image. Therefore, we will keep preferring the bullish trend in the upcoming sessions unless breaking 1274.00 level and holding it below it, where breaking this level will push the price to test 1254.56 – 1249.94 levels before any new attempt to rise while breaching 1295.37 represents the rally key to 1360.00 levels. The expected trading range for today is between 1274.00 support and 1310.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold price settles near 1285.00 after the price decline with the end of yesterday, while stochastic approaches from the oversold levels, to provide a positive motive that we expect to lead the price to resume the main bullish trend, organizes within the bullish channel that appears in the image. Therefore, we will keep preferring the bullish trend in the upcoming sessions unless breaking 1274.00 level and holding it below it, where breaking this level will push the price to test 1254.56 – 1249.94 levels before any new attempt to rise while breaching 1295.37 represents the rally key to 1360.00 levels. The expected trading range for today is between 1274.00 support and 1310.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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