Overview
The gold price has tested the 1,227.40 level this morning, but has bounced bullishly to settle around 1,233.00 levels again, keeping the bullish trend scenario valid and active on the intraday and short-term bases. We need to breach the 1,237.50 level to reinforce expectations of targeting 1,282.92 followed by 1,300.00 areas initially. We remind you that a break of the 1,227.40 level will stop the positive overview and push the price to return to the correctional bearish track again, the next main 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.
