Gold needs the positive momentum – Analysis - 17-04-2018

The tight range continues to dominate Gold price intraday trades, noticing that stochastic begins to get rid of its negative momentum now, on its way to head towards the oversold areas, which supports the chances of resuming the main bullish trend, which its targets begin by testing the previously recorded top at 1365.97 again.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, noting that breaking 1335.40 will stop the expected rise and push the price to return to the correctional bearish track again.

Expected trading range for today is between 1335.00 support and 1370.00 resistance.

Expected trend for today: Bullish