FX.co ★ Daily analysis of GOLD for March 03, 2016

Overview

The gold price shows slight bearish bias moving near the symmetrical triangle resistance located at 1,246.55. Breaching this level will reinforce expectations for the bullish trend continuation in the upcoming period and open the way towards targets at 1,263.23 and then 1,300.00 levels. Therefore, we will keep our bullish trend expectations on the intraday and short-term bases unless breaking 1,212.34 and then 1,180.86 levels and holding below them.

The expected trading range for today is between 1220.00 support and 1263.23 resistance.