Gold price is hovering around the EMA50 and the intraday bullish trend line that appears on the chart. Therefore, there is no change in the overall bullish scenario that depends on the stability above 1249.94 level, while its main targets begin at 1297.74. We remind you that breaching 1249.94 level will extend the bullish wave to reach 1375.00 on the near-term basis. At the same time, while breaking 1249.94 level represents a negative factor that will push the price to visit 1211.31 areas before any new attempt to rise. The expected trading range for today is between 1255.00 support and 1297.74 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold price is hovering around the EMA50 and the intraday bullish trend line that appears on the chart. Therefore, there is no change in the overall bullish scenario that depends on the stability above 1249.94 level, while its main targets begin at 1297.74. We remind you that breaching 1249.94 level will extend the bullish wave to reach 1375.00 on the near-term basis. At the same time, while breaking 1249.94 level represents a negative factor that will push the price to visit 1211.31 areas before any new attempt to rise. The expected trading range for today is between 1255.00 support and 1297.74 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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