Midday update for Gold 11/02/2016
Economies.com
2016-02-11 11:50AM UTC
Gold price rallied to the upside sharply attacking 1219.70 level and attempts to settle above it, reinforcing the expectations for more upside moves on the intraday and short term basis, the price needs a daily close above the mentioned level to confirm the extension of the bullish wave to 1267.20 mainly.
Therefore, we will keep our bullish trend if the price settled above 1182.80 level, reminding you that the EMA50 keeps providing positive support from below.
Expected trading range for today is between 1190.00 support and 1230.00 resistance.
Expected trend for today: Bullish
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