InstaForex - Analytics


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    Daily analysis of GOLD for February 18, 2016 2016-02-18


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    As we mentioned in our last reports, breaching the level of 1,212.34 will ease the price mission to head towards the recently recorded top at 1,263.23. Until now, we still suggest the bullish trend unless breaking the 1180.86 level and holding below it, noting that our positive targets begin at 1,263.23 and extend to 1,300.00 on the near-term basis. In general, the bullish trend scenario remains valid and is expected in the upcoming period if the price settles above the 1,180.86 level. Breaching 1,263.23 levels will push the price to 1,155.42 and then probably to 1130.00 before any new attempt to rise.

    The expected trading range for today is between 1,180.00 support and 1,240.00 resistance.

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