Gold price managed to close the daily candlestick above $1,254.56 level which is a positive factor that supports extending the bullish wave in the upcoming period. Besides, the stochastic reached the oversold areas’ thresholds, waiting to motivate the price to continue rising today. Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short-term basis, reminding you that our next main target lies at 1295.37. To continue the suggested rise, gold prices should hold above $1,254.56 and 1,249.95 levels, as breaking these levels will push the price to test $1,229.32 areas again before any new attempt to rise. The expected trading range for today is between $1,245.00 support and $1,265.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold price managed to close the daily candlestick above $1,254.56 level which is a positive factor that supports extending the bullish wave in the upcoming period. Besides, the stochastic reached the oversold areas’ thresholds, waiting to motivate the price to continue rising today. Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short-term basis, reminding you that our next main target lies at 1295.37. To continue the suggested rise, gold prices should hold above $1,254.56 and 1,249.95 levels, as breaking these levels will push the price to test $1,229.32 areas again before any new attempt to rise. The expected trading range for today is between $1,245.00 support and $1,265.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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