Gold reaches the target – Analysis - 12-04-2018

Gold price achieved strong gains yesterday to reach our waited target at 1365.97, noting that the price continues to decline calmly, and stochastic negativity still valid, noticing that the indicator gets rid of its negative momentum gradually to head towards the oversold areas, to provide positive factor that we are witing to assist to push the price to rise again.

In general, we expect the continuation of the overall bullish trend domination unless breaking 1335.40 and holding below it, a breaking this level will push the price back to the correctional bearish track, while breaching 1365.97 represents the key to rally towards 1390.00 followed by 1400.00 levels as next main stations.

Expected trading range for today is between 1330.00 support and 1370.00 resistance.

Expected trend for today: Bullish