Gold begins positively – Analysis - 27/04/2015

Gold price opens today’s trading after the negative pressure that appeared on last Friday, to trade inside the sideways range that appears on image again, supported by stochastic positivity that appears on the four hours’ time frame.

Therefore, the sideways trading will remain dominant on the intraday actions between 1181.00 support and 1205.00 resistance until the price manages to breach one of these levels, reminding you that breaking the mentioned support will push the price to visit the previously recorded low at 1142.60 mainly, while breaching the resistance will motivate the price to achieve gains that start at 1225.00 then 1244.00.

Expected trading range for today is between 1160.00 support and 1200.00 resistance.

Expected trend for today: Sideways