Gold holds above the support – Analysis - 01/04/2015

Gold price keeps its stability above 1181.00 level, to trade positively now and negotiate the EMA50, while stochastic is heading upwards gradually on the intraday time frames, which supports the continuation of the positive attempts in the upcoming sessions.

But, until now, we are still waiting to get clearer signal for the next intraday trend, which we will get through breaching one of the trend keys represented by 1181.00 support and 1190.00 resistance, reminding you that breaking the mentioned support will push the price to suffer more losses that its initial targets reach 1142.60, while breaching the resistance represents good positive motive that will lead the price to breach 1205.00 and open the way towards 1225.00 followed by 1244.00 as first main targets.

Expected trading range for today is between: 1170.00 support and 1220.00 resistance.

Expected trend for today: Neutral