Gold gets the positive momentum – Analysis - 25-07-2016

Gold price is testing the intraday bullish trend line that appears on chart, accompanied by stochastic reach to the oversold areas, which forms positive factor that we are waiting to assist to push the price to resume the main bullish bias, which depends on the stability above 1297.75.

Therefore, we are waiting for positive trades in the upcoming sessions, and the targets begin at 1375.00 and extend to 1400.00, taking into consideration that breaking 1311.00 followed by 1297.75 will confirm completing negative formation that has the ability to push the price to visit 1249.95 direct before any new attempt to rise.

Expected trading range for today is between 1300.00 support and 1350.00 resistance.

Expected trend for today: Bullish