Gold tests the moving average – Analysis - 20-02-2018

Gold price begins today’s trading with bearish to test the EMA50 that forms good intraday support base that protects the price from achieving more decline, which keeps the chances valid to continue the main bullish trend, supported by stochastic move at the oversold areas, reminding you that we are waiting to head towards 1365.97 as a first station.

Therefore, we will continue to suggest the bullish trend for today unless breaking 1335.40 level and holding below it, reminding you that breaching the targeted level will extend Gold price gains to reach 1400.00 on the near term basis.

Expected trading range for today is between 1330.00 support and 1355.00 resistance.

Expected trend for today: Bullish