Overview
Gold has been trading in a tight range since morning keeping its stability above 1,211.31. As long as the price holds above this level and above 1,200.00, our bullish trend expectations remain valid and active for today. The first target level to be tested lies at 1,249.94. Breaching this level will extend gains to 1,297.74 as the next main station. Breaking the 1,229.00 level will make it easier to achieve the suggested targets. The stochastic provides a positive signal that will motivate the price to fulfill the required break. The expected trading range for today is between 1,200.00 support and 1,240.00 resistance.
