FX.co ★ Daily analysis of GOLD for April 12, 2016

Overview

The gold price trades positively now, resuming the bullish track. It is likely to test the previously recorded top at 1,282.92 as the next main station as a break of it represents the key for a rise in gold price to as high as 1,300.00. Stochastic continues attempts to get rid of its negative momentum and is gaining positive momentum that pushes the price to suggested targets. Holding above the mark of 1,227.40 represents an important condition for the continuation of the suggested bullish trend.

The expected trading range for today is between the 1,240.00 support and the 1,280.00 resistance.