Midday update for Gold 01-07-2016
Economies.com
2016-07-01 10:54AM UTC
Gold price trades with clear positivity since morning to begin to test the critical resistance at 1337.00, as we mentioned this morning; the price needs to breach this level to confirm the extension of the bullish wave on the short- term basis then heading towards our main target at 1400.00.
Therefore, the bullish trend scenario will remain valid for today supported by the EMA50, conditioned by holding above 1303.58 level.
Expected trading range for today is between 1300.00 support and 1360.00 resistance.
Expected trend for today: Bullish
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