Overview
Gold kicked off the global trading day with a bullish bias in an effort to regain some of the losses incurred yesterday. Please note note that stochastic provides a positive overlapping signal on the four-hour time frame, which creates a long-awaited momentum to enable the price to achieve more gains in the nearest sessions as our first target is located at 1,365.97. Therefore, the bullish trend remains valid and active in the short term on conditioned of the price stability above 1,335.40. Let me remind you that breaching the targeted level will push the price towards 1,400.00 as a next station. 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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