Gold resumes rising – Analysis - 21-07-2017

Gold price provided clear positive trading yesterday's evening to approach from our waited target at 1254.56, which supports the continuation of our bullish overview efficiently in the upcoming period, which gets continuous support by the EMA50, reminding you that breaching the mentioned level will push the price to extend its gains and head towards 1295.37 on the near term basis.

The price might be forced to show some temporary sideways trading until stochastic manages to get rid of the negative momentum and gain enough positive momentum to push the price to achieve the above mentioned targets, taking into consideration that the continuation of the bullish wave depends on holding above 1229.32.

Expected trading range for today is between 1235.00 support and 1260.00 resistance.

Expected trend for today: Bullish