FX.co ★ Daily analysis of GOLD for February 19, 2016

Overview

The gold price managed to breach the 1,212.34 level and close the daily candlestick above it, thus reinforcing our expectations for the bullish trend continuation on the short-term basis and opening the way to the recently recorded top at 1,263.23 as the next main target. In general, we still suggest the bullish trend for the upcoming period, and the main condition to continue the suggested rise is represented by holding above 1,180.86 levels. Our main targets start at 1,263.23 and extend to 1,300.00.

The expected trading range for today is between 1,200.00 support and 1,260.00 resistance.