FX.co ★ Daily analysis of GOLD for February 17, 2016

Overview

It is difficult for the gold price to surpass the 1,212.34 barrier. The bullish trend scenario will remain valid and active if the price settles above 1,180.86 levels, waiting to breach 1,212.34 levels in order to confirm opening of the way towards our positive targets at 1,263.23 and then 1,300.0. In general, we still prefer the bullish trend in the upcoming period unless breaking the 1,180.86 level and holding below it. Our positive targets begin at 1,263.23 and extend to 1,300.00. The expected trading range for today is between 1,180.00 support and 1,240.00 resistance.