The price of gold resumed its positive trading from the previously completed inverted head and shoulders pattern. The price is supported by a positive continuation from the 50 SMA, reinforcing expectations for a short term uptrend. The next target resides at 1295.37, while the full target of 1312.00 remains intact.
Therefore, we will maintain our bullish outlook for the coming sessions provided stability above 1254.56, noting that breaking this level will press the price to test areas 1229.32 and may extend to 1215.00 mainly.
The trading range for today is among the support at 1260.00 and resistance at 1285.00
The general trend for today is bullish