FX.co ★ Daily analysis of GOLD for March 21, 2016

Overview

The gold price shows some bearish bias in its way to potential retesting of 1,227.40 levels. We expect the positive scenario suggested in our last reports to be confirmed. A breach of the 1,282.90 level will ease movements towards the 1,300.00 barrier that represents the next main target of the current bullish wave. A break of the 1,227.40 level will stop the suggested rise and put the price under correctional bearish pressure again. We expect the trading range for today to be between 1,235.00 support and 1,280.00 resistance.