Gold pushes on the support line – Analysis - 14-09-2017

Gold price attempts to break the key support 1321.49 without settling below it until now, to keep the price stuck between the trend confirmation levels represented by the mentioned support and 1335.50 resistance, and the price needs to breach one of these levels to detect its next targets clearly, which makes us continue with our neutrality until now.

The contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality, noting that breaking the mentioned support will push the price to extend the bearish correction and target 1299.20 areas direct, while breaching the resistance will lead the price to recover and regain the main bullish trend that its targets begin by visiting the previously recorded top at 1357.53 and extend to reach 1400.00.

Expected trading range for today is between 1300.00 support and 1340.00 resistance.

Expected trend for today: Depends on the above mentioned levels