Gold price technical analysis

Gold price technical analysis for 20-12-2016 shows a narrow trading around 1140 U.S.D/ ounce. the indicator show a decline followed by a rise at the end of gold trading session today leaving  the scenario of uptrend in place and effective at the end of the gold session. gold price will show a fluctuate during the trading session today.

gold price technical analysis show also that the expected trading range for today is between the support and resistance 1124.88  to 1154.75 U.S.D/ounce

Hence, we are waiting for gold price to  visit the level of 1172.68 or 1154.76 U.S.D/ Ounce as a main targets foreseen the current bullish wave, with a reminder that the break of 1124.88 U.S.D/ounce will stop the expected bullish direction and pressuring the pair to move towards pre-recorded at 1047.61 U.S.D/ounce bottom in the near term.

gold price will decline during the middle session today and show a resistance at 1115.99 U.S.D/ ounce

 

the media source www.dailyfx.com

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