FX.co ★ Daily analysis of gold for June 15, 2016

Overview

Gold price settled above 1,280.00 level to build a good support base above this level. This fact reinforces the expectations of continuing the bullish trend in the upcoming sessions. The way is open to target the recently recorded top at 1,303.58 initially, and if this barrier is surpassed, the price will achieve more gains towards the next targets at 1,344.85. Therefore, the bullish trend scenario will remain valid and active for today if the price is stable above 1,262.00 and 1,243.17. Let us remind that our main targets begin at 1,303.58 and extend to 1,344.85 after breaching the previous level. The expected trading range for today is between 1,270.00 support and 1,303.00 resistance.