Overview
Gold price fluctuates at the intraday bullish trend line that appears in the image. The stochastic reaches the thresholds of the oversold levels now, waiting for the price rally to resume the main bullish trend. Its next target is located at 1,263.17, reminding you that breaching 1,250.00 will reinforce the expectations for the continuation of the expected rise. In general, the bullish bias will remain preferred in the upcoming period unless breaking 1,231.13 level and holding below it. The expected trading range for today is between 1,235.00 support and 1,263.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com
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