Overview
The main bullish trend line of gold which can be seen on the chart shows bullish rebound signals now, while stochastic continues to crawl towards the oversold areas, which supports the continuation of the bullish trend on the short term basis. Therefore, we believe that the way is open towards our next targets at 1,282.92 and then at 1,300.00, Importantly, the 1,227.40 level should be held above in order to achieve the suggested targets, as breaking this level represents negative factor that will return the price to the correctional bearish track again. The expected trading range for today is between support at 1,235.00 and resistance at 1,280.00.
