Gold price returns to fluctuate around the main bullish trend line, located now at 1318.00, accompanied by stochastic reach to the oversold areas after getting rid of its negativity on the four hours' time frame, which forms positive factor that we are waiting to motivate the price to resume the main bullish trend, to keep the bullish trend valid and active in the upcoming sessions.
Our main targets begin at 1344.50 and extend to 1375.00 followed by 1400.00, noting that holding below 1318.00 level might push the price to test the most important support to the short term trading at 1297.75 before any new attempt to rise.
Expected trading range for today is between 1300.00 support and 1344.50 resistance.
Expected trend for today: Bullish