Gold has been trading upwards. The price tested the level of $1.322.36. We found strong bullish momentum.
According to the H4 time – frame, there is the completed downward correction (expanded flat) in the background and the key support remains at the price of $1.280.00. Price is respecting the upward trendline and the Gold is heading towards the resistance at $1.345.75.
Trading recommendation: We are long on Gold from $1.320.00 and with target at $1.345.75. Protective stop is placed at $1.290.00.
The material has been provided by InstaForex Company - www.instaforex.com
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