Gold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. The metal is heading for the upward targets like $1,154.75 and later $1,172.68. Therefore, we are waiting for more bullish bias today on the assumption of the price stability above $1,124.88. Breaking this level will bring in negativity that will push the price down to $1,047.61 as a next main station. The expected trading range for today is between 1120.00 support and 1154.75 resistance.
The material has been provided by InstaForex Company – www.instaforex.com