Commodities

Gold price reaches the target – Analysis - 04-12-2018

2018-12-04 05:13:48 GMT (Economies.com)

Gold price resumes its positive trading today to reach the thresholds of the waited target at 1238.30, getting continuous positive support by the EMA50, which encourages us to suggest breaching the mentioned level and extend the bullish wave to target 1262.51 level as a next main station.

 

Therefore, the bullish bias will remain dominant in the upcoming sessions, noting that breaking 1228.00 might force the price to test 1208.40 areas before any new attempt to rise.

 

Expected trading range for today is between 1225.00 support and 1250.00 resistance.

 

Expected trend for today: Bullish

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