Gold approaches the first target – Analysis - 08/02/2016
Economies.com
2016-02-08 05:55AM UTC
Gold price rallied higher in last Friday to approach from our first main waited target at 1182.80, supported by the EMA50 that keeps carrying the price from below, to keep preferring the bullish trend in the upcoming sessions, reminding you that breaching 1182.80 level will extend gold’s gains to reach 1200.00 as a next main station.
We remind you that the continuation of the positive expectations depend on the stability above 1130.60 level, where breaking this level will push the price to return to the previously breached bearish channel that appears in the above chart.
Expected trading range for today is between 1150.00 support and 1190.00 resistance.
Expected trend for today: Bullish
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