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3/3/2016 3:04:36 AM

Gold returns higher - Technical Analysis - 03-03-2016



Gold prices returned higher in the intraday levels after sliding two days ago as traders reaped profits of the past short-term rises, with the overall dominance of the main upward trend, with prices settling back above the important resistance of 1,238.50, with an ongoing influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart, and with positive pressure from the SMA50.

Therefore we expect more gains to come for the precious metal, targeting the pivotal resistance of 1,268.30.


Target
Risk


Support
Resistance


Trend Bullish

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