Daily analysis of GOLD for March 22, 2016

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Overview

According to the shown H4 chart, the gold price is likely to visit the 1,300.00 barrier as the next main station. A break of the 1,227.40 level will put the price under bearish correctional pressure again and make it head towards 1,193.00, which represents 38.2% Fibonacci for the upside track measured from 1,047.60 to 1,282.90. The expected trading range for today is between 1,230.00 support and 1,270.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com