Midday update for Gold 14-07-2017

Gold price begins to provide slight positive trading affected by the positive signal provided by stochastic now, which keeps the bullish trend scenario valid for today, which its first main target represented by testing 1229.32 level, noting that breaching this level will extend Gold price gains to reach 1254.56.

Therefore, we will keep our positive overview for the rest of the day conditioned by holding above 1208.92, and the price needs to get rid of the negative pressure formed by the EMA50 through breaching 1222.00 level to reinforce the expectations of achieving the suggested targets.

Expected trading range for today is between 1205.00 support and 1235.00 resistance.

Expected trend for today: Bullish