InstaForex - Analytics


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    Daily analysis of gold for June 07, 2016 2016-06-07


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    Gold price managed to close above 1,243.17 level yesterday. This fact represents a positive factor that supports the continuation of the bullish trend scenario on the intraday and short term basis. Additionally, this scenario gets continuous support from the EMA50 and the positive overlapping signal that is coming from stochastic now. Therefore, these factors encourage us to keep our bullish trend expectations. The next target is located at 1,303.58. However, breaking 1,228.20 and then 1,205.80 levels will invalidate the suggested positive scenario and put the price under the bearish correctional pressure. The expected trading range for today is between 1,230.00 support and 1,270.00 resistance.

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