Gold price recovered yesterday, where it provided strong positive trading near 1245.00, to reinforce the expectations for stopping the bearish correction that controlled the last trading then regain the main bullish track, and the price needs to surpass 1249.94 barrier to ease the price mission to head towards our next main target at 1263.17.
Therefore, we keep preferring the bullish trend on the intraday and short term basis, supported by the EMA50, being aware that breaking 1231.13 level will stop the suggested rise and pushes the price to regain the bearish correctional track.
Expected trading range for today is between 1235.00 support and 1263.00 resistance.
Expected trend for today: Bullish