Gold price recovers – Analysis - 29-11-2018

Gold price achieved good gains yesterday to move away from the key support 1208.40, settling above the EMA50 now, reinforcing the expectations of continuing the bullish trend on the intraday basis, waiting to test 1238.30 level mainly.

We remind you that breaching the targeted level will extend Gold price gains to reach 1262.51 on the short term basis, while breaking 1208.40 will stop the expected rise and press the price to achieve negative targets that start at 1200.00 and extend to 1180.00.

Expected trading range for today is between 1215.00 support and 1240.00 resistance.

Expected trend for today: Bullish