Midday update for Gold 11-01-2017
Economies.com
2017-01-11 11:11AM UTC
Gold price fluctuates within tight range since morning settled near 1190.00, as long as the price above 1172.68 level, so the bullish trend scenario will remain valid for today, supported by the EMA50 that keeps carrying the price from below, waiting for visiting 1211.31 level as a next main station.
We should mention that breaking 1172.68 then 1160.00 levels will put the price under negative pressure that will lead the trading towards 1124.88 before any new attempt to rise.
Expected trading range for today is between 1172.68 support and 1211.31 resistance.
Expected trend for today: Bullish
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