Gold price is still fluctuating around 1,281.17, settling inside the minor bullish channel. This keeps the chances valid to continue the bullish trend on the intraday- and short-term basis. We are waiting to confirm breaching the mentioned level to push the price towards 1,299.20 initially. Stochastic shows weakness of the bullish momentum that might cause more sideways fluctuation amid the bullish bias. On the whole, we still suggest the bullish trend in the upcoming sessions conditioned by holding above 1,273.00. Let me remind you that breaching 1,299.20 will extend Gold gains to reach 1,321.50 directly. The expected trading range for today is between 1,272.00 support and 1,295.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Gold price is still fluctuating around 1,281.17, settling inside the minor bullish channel. This keeps the chances valid to continue the bullish trend on the intraday- and short-term basis. We are waiting to confirm breaching the mentioned level to push the price towards 1,299.20 initially. Stochastic shows weakness of the bullish momentum that might cause more sideways fluctuation amid the bullish bias. On the whole, we still suggest the bullish trend in the upcoming sessions conditioned by holding above 1,273.00. Let me remind you that breaching 1,299.20 will extend Gold gains to reach 1,321.50 directly. The expected trading range for today is between 1,272.00 support and 1,295.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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