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    Daily analysis of Gold for March 11, 2016 2016-03-11

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    Overview

    Gold price closed yesterday's session above the 1,262.23 level after bouncing bullishly from the retest level of the previously breached resistance that appears on the above chart. It supports continuation of the bullish trend scenario efficiently in the near future, waiting to visit the 1300.00 level, which represents the next main target for the current bullish wave. We should be aware that stochastic negativity might slow down the suggested bullish wave and push the price to test the support base formed above 1262.23 before resuming the expected bullish bias, which its continuation conditions holding above 1240.45 level.

    The expected trading range for today is between 1250.00 support and 1300.00 resistance.


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