The Gold price settled around 1,345.00 level after the strong decline that it witnessed on last Friday, noticing that stochastic got rid of its negativity and gained clear positive momentum on the four hours’ time frame, while the EMA50 continues to support the price from below. Therefore, we expect to resume the bullish track in the upcoming sessions, to start the positive targets by breaching 1,365.97 to confirm extending the bullish wave towards 1,400.00 areas, taking into consideration that breaking 1,335.40 will stop the expected rise and push the price to test 1,316.48 areas before any new attempt to rise. The expected trading range for today is between 1,335.00 support and 1,365.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
The Gold price settled around 1,345.00 level after the strong decline that it witnessed on last Friday, noticing that stochastic got rid of its negativity and gained clear positive momentum on the four hours’ time frame, while the EMA50 continues to support the price from below. Therefore, we expect to resume the bullish track in the upcoming sessions, to start the positive targets by breaching 1,365.97 to confirm extending the bullish wave towards 1,400.00 areas, taking into consideration that breaking 1,335.40 will stop the expected rise and push the price to test 1,316.48 areas before any new attempt to rise. The expected trading range for today is between 1,335.00 support and 1,365.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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