Gold broke the downward trend that started since
mid-March 2015 when the annual low was pinned at 1,046.77. At present, the
price of the precious metal found support around the psychological level of 1,060.31
dollars, but successfully broke the previous lows located around 1,100 dollars.
The continuation of the movement conquered the nearest resistance at 1,252.31
dollars.
During today’s session bulls are at large and sent the pair to daily high at 1,271.70,
while the low was marked at 1,2580.30. If closing above 1,268 we will witness reflections
on 1,2712, 1,285, 1,298. Closing below 1,258 will drag the pair into the depths
of 1,252, 1,248, 1242.
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