FX.co ★ Daily analysis of gold for June 06, 2016

Overview

Gold price managed to touch our first target at 1,243.17 and closed above it last week, which opens the way to continue the bullish wave on the longer term basis. It can help to reach the previously recorded top at 1,303.58 as the next main target. The price needs to build good support base above 1,243.17 level to ease the mission of continuing the bullish trend the next target of which is located at 1,303.58. The expected trading range for today is between 1,230.00 support and 1,270.00 resistance.