Gold resumes rising – Analysis - 18-07-2017

Gold price resumes its positive trading clearly affected by the inverted head and shoulders' pattern that its signs appear on chart, which supports the continuation of the bullish trend scenario in the upcoming period, waiting to visit 1254.56 level that represents our next main target.

The EMA50 keeps providing the positive support to the price, to reinforce the chances of continuing the rise for today, taking into consideration that the continuation of the suggested bullish wave depends on holding above 1229.32 and 1223.00 levels.

Expected trading range for today is between 1229.32 support and 1254.56 resistance.

Expected trend for today: Bullish