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Daily analysis of GOLD for March 01, 2016 2016-03-01

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Overview

The attached H4 chart demonstrates that the gold price continues the upside track approaching gradually from our first main target at 1,263.23, reinforcing the expectations for more upside movements in the upcoming period. We are waiting for breaching the targeted level to open the way towards testing the 1,300.00 barrier on the near-term basis. In general, we will keep our bullish trend expectations on the intraday and short-term bases if the price settles above 1,212.34 and, most important, above 1,180.86 levels, reminding you that our extended targets reach 1,300.00 after surpassing the 1,263.23 level.

The expected trading range for today is between 1,225.00 support and 1,265.00 resistance.



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