Overview
Gold is trading sideways in a tight range since yesterday’s evening. The precious metal is holding above the bullish trend line that appears on the chart. At the same time, stochastic attempts to get rid of its negativity and gain positive momentum in intraday time frames, which forms the positive factor that we are waiting to resume the bullish bias in the upcoming sessions. Its main targets are set at 1348.00 and later at 1375.00. Therefore, we still suggest the bullish trend on the intraday and short-term basis conditioned by the price stability above 1310.65 and 1297.75 levels. Breaking these levels represents the key to extend the correctional bearish wave to target 1249.94 areas before any new positive attempt.
The material has been provided by InstaForex Company – www.instaforex.com
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