Gold achieves strong gains – Analysis - 12-01-2017

Gold price traded with strong positivity yesterday to approach from 1200.00 barrier now, to keep the bullish trend scenario valid efficiently on the intraday and short term basis, and the way is open to test 1211.3 that represents the next main target.

We remind you that breaching the targeted level will extend gold price gains to reach 1249.94 on the near term basis, while the bullish trend will remain active unless breaking 1172.68 followed by 1168.00 levels and holding below them.

Expected trading range for today is between 1189.00 support and 1211.31 resistance.

Expected trend for today: Bullish