InstaForex - Analytics

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    Daily analysis of GOLD for February 10, 2016 2016-02-10

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    Overview

    Gold price remains stable above the level of 1182.80, which represents the major support base that supports a continuation of the bullish wave in the upcoming period. We still wait for resuming the bullish bias to head towards our next target at 1219.70. Therefore, we prefer the bullish trend on the intraday and short-term basis, reminding you that breaking the level of 1182.80 will push the price to test 1150.56 and it might extend to 1130.60 before any new attempt to rise.

    An expected trading range is seen between support of 1170.00 and resistance of 1219.70.


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