19.04.201617:27 Forex Analysis & Reviews: Daily analysis of GOLD for April 19, 2016

Long-term review

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Overview

Gold price rallied higher strongly to breach the 1,237.25 level and settle above it. This supports continuation of our bullish trend expectations in the upcoming period. Therefore, the bullish bias will remain preferred on the intraday and short-term basis unless the price breaks the 1,227.40 level and holds below it.The way is open towards 1,282.92 and 1,300.00 levels initially.

The expected trading range for today is between the 1,215.00 support and the 1,260.00 resistance.

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