Gold resumes rising – Analysis - 24-01-2017
Economies.com
2017-01-24 04:53AM UTC
Gold price bounced bullishly after touching 1210.00 level yesterday, to start testing the recently recorded top at 1218.55 again, waiting to breach this level to confirm the continuation of the bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on chart.
Therefore, the bullish trend will remain suggested in the upcoming sessions supported by the EMA50 that keeps carrying the price from below, reminding you that our next main target is located at 1249.94, which conditions holding above 1205.50 and the most important above 1197.10 to achieve it.
Expected trading range for today is between 1205.50 support and 1240.00 resistance.
Expected trend for today: Bullish
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