Gold approaches the first target 26/11/2012

The price rallied sharply to the upside approaching from the initial waited target at 1760.00, and it might be forced to show some fluctuation now due to the sensitivity of this level for the short term trend.

In general, we expect continuing the gains for the upcoming term, and in case surpassing the mentioned level, the way will be open for targeting the psychological barrier levels 1800.00, with being aware that stability above 1731.00 is considered as the most important factor to keep the chances of achieving these expectations.

Expected trading range for this week is between: 1731.00 support and 1800.00 resistance.

Expected trend for this week: Bullish