Gold begins negatively – Analysis - 21-03-2017

Gold price opens today's trading with clear negativity to break 1231.13 level and attempts to settle below it, which urges caution from the upcoming trading, as holding below this level will push the price to test 1211.30 before any new positive attempt.

We will depend on the daily candlestick close above 1231.13 to continue suggesting the overall bullish trend for the upcoming period, besides stochastic reach to the oversold areas, waiting to step above 1231.13 level to reinforce the expectations of heading towards 1263.17 mainly, noting that breaking 1221.70 will put the price under more negative pressure during this day.

Expected trading range for today is between 1215.00 support and 1250.00 resistance.

Expected trend for today: Bullish