Midday update for Gold 12-01-2017
Economies.com
2017-01-12 11:11AM UTC
Gold price continues its bullish rally to surpass 1200.00 barrier and attempts to settle above it, reinforcing our expectations for more of the upside track for the rest of the day, waiting for visiting 1211.31 level as a first main target, reminding you that breaching this level will extend gold gains to reach 1249.94 as a next station, pointing that the EMA50 keeps supporting the suggested bullish wave, which will remain active for today unless breaking 1172.68 level and holding below it.
Expected trading range for today is between 1189.00 support and 1211.31 resistance.
Expected trend for today: Bullish
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