FX.co ★ Daily analysis of Gold for April 15, 2016

Overview

The gold price is trading steadily above the 1,227.40 level. Stochastic is offering a positive overlapping signal in the four-hour time frame, which supports the chances of resuming the bullish trend in the upcoming sessions. The price needs to breach 1,232.00 followed by 1,238.45 levels to ease the mission of heading towards our main targets that begin at 1,282.92 and then 1,300.00. We remind you that a break of the 1,227.40 level and holding below it will push the price to return to the correctional bearish track, the next target of which is located at 1,193.00.

The expected trading range for today is between the 1,215.00 support and the 1,260.00 resistance.