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

Overview

The gold price shows a stronger rise approaching from the recently recorded top at 1,282.90. The price is likely to breach this level to extend the bullish wave to reach 1,300.00 as the next main station. Therefore, we believe that the bullish trend could continue on the short term-basis and that targets begin with breaching the mentioned top to open the way to 1,300.00 levels as the next main station. Breaking 1,246.00 followed by 1,227.40 levels will stop the positive overview and put the price under correctional bearish pressure again.