Gold has been trending upwards since Monday, the 28th of March 2016, with the buyers leading the price from as low as 1206.31 to as high as 1244.23.
During the early European session, the precious metal price dropped from as high as 1244.23 down to 1230.64 and at the time of writing is trading at 1234.49.
In the event that the buyers manage to gain momentum and push the price above 1238.55, the pair price could advance at 1244.23 and 1246.32 respectively.
On the other side, where the sellers keep exerting strong pressures and the price breaks below 1229.59, the price could decelerate down to 1225.21 and 1220.73 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.