FX.co ★ Daily analysis of Gold for March 10, 2016

Overview

The gold price is trading steadily above 1,241.80 levels, thus keeping the bullish trend scenario valid and active for today. A breach of the critical resistance at 1,262.23 represents the key extension of the bullish wave towards 1,300.00. In general, we still expect the bullish trend on the intraday and short-term bases conditioned by holding above 1,241.80 and, most important, above 1,212.34 levels.The expected trading range for today is between 1,235.00 support and 1,280.00 resistance.