Gold gets a positive motive – Analysis - 19-02-2018

Gold price settled around 1345.00 level after the strong decline that it witnessed on last Friday, noticing that stochastic got rid of its negativity and gained clear positive momentum on the four hours’ time frame, while the EMA50 continues to support the price from below.

Therefore, we expect resuming the bullish track in the upcoming sessions, to start the positive targets by breaching 1365.97 to confirm extending the bullish wave towards 1400.00 areas, taking into consideration that breaking 1335.40 will stop the expected rise and push the price to test 1316.48 areas before any new attempt to rise.

Expected trading range for today is between 1335.00 support and 1365.00 resistance.

Expected trend for today: Bullish