Gold price confirmed breaching 1299.20 level after closing last week above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to target 1321.49 level that represents our next main target, noting that the EMA50 supports the expected rise.
Note that holding above 1299.20 represents the first protecting factor to the continuation of the suggested positive scenario, as breaking it will push the price to test 1263.15 areas again before any new attempt to rise.
Expected trading range for today is between 1290.00 support and 1321.00 resistance.
Expected trend for today: Bullish