InstaForex - Analytics


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    Daily analysis of gold for June 17, 2016


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    Gold price has been showing slight positive trading since morning in attempt to move away from the EMA50. Please note that the stochastic is providing positive overlapping signal now, creating a positive motive which is likely to push the price higher to resume the main bullish trend. The targets begin by surpassing 1,303.58 level to reinforce the expectations of targeting 1,344.85 levels. Therefore, the positive scenario will remain valid and active for the rest of the day, unless the price makes a clear break to 1,273.00 and then 1,243.17 levels and holds below it. The expected trading range for today is between 1,260.00 support and 1,320.00 resistance.

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