Gold price shows bullish bias since morning to move above 1,250.00, but it remains below the broken support level of the intraday bullish channel, which keeps the bearish trend scenario active until now. It waits for heading to test 1,231.13 level mainly. We remind you that the expected decline is temporarily, waiting for resuming the main bullish trend with its the next main target at 1,300.00 points that 1,257.80 will push the price to rise without the need to decline towards the above-mentioned target. The expected trading range for today is between 1,231.00 support and 1,257.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold price shows bullish bias since morning to move above 1,250.00, but it remains below the broken support level of the intraday bullish channel, which keeps the bearish trend scenario active until now. It waits for heading to test 1,231.13 level mainly. We remind you that the expected decline is temporarily, waiting for resuming the main bullish trend with its the next main target at 1,300.00 points that 1,257.80 will push the price to rise without the need to decline towards the above-mentioned target. The expected trading range for today is between 1,231.00 support and 1,257.80 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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