Gold negotiates the support – Analysis - 28-04-2017

Gold price settles at 1263.17 level, and the price falls under continuous negative pressure formed by the EMA50, which makes it harder to the mission of resuming the recently suggested bullish trend, waiting to get enough positive momentum to push the price to rise again.

In general, we will continue to suggest the bullish trend unless breaking 1263.17 level and holding below it, noting that our main targets begin by breaching 1282.00 to confirm extend the bullish wave towards 1300.00 followed by 1340.00.

Expected trading range for today is between 1255.00 support and 1290.00 resistance.

Expected trend for today: Bullish