Gold begins with strong positivity – Analysis - 11/02/2016
Gold price opened today’s trading with s strong rise to surpass 1200.00 barrier, approaching from our next main target at 1219.70, keeping our positive expectations valid efficiently in the upcoming sessions, supported by the EMA50 that continues to carry the price from below, reminding you that breaching the targeted level will extend gold gains to reach 1267.20 as a next main station.
Holding above 1182.80 level represents an initial important condition for the continuation of the expected rise for today, where breaking this level will push the price to retest 1150.56 levels and it might extend to 1130.60 before any new attempt to resume the bullish bias.
Expected trading range for today is between 1190.00 support and 1230.00 resistance.
Expected trend for today: Bullish
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