Gold shows recovery attempts 04/02/2013

Economies.com
2013-02-04 05:30AM UTC

 

Gold price managed to reach the waited targets in last Friday near 1683.00, and bounces to the downside to fluctuate now around EMA50, while it keeps the stability above the minor bullish trend line which meets 1660.00.

 

Therefore, the bullish trend will be preferred on the intraday basis, and the main target is represented by testing the strength of 1692.00, reminding you that breaking 1660.00 will cause an intraday turn to the downside.

 

Expected trading range for today is between: 1660.00 support and 1692.00 resistance.

 

Expected trend for today: Bullish

 

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