Midday update for Gold 17-01-2017
Economies.com
2017-01-17 11:35AM UTC
Gold price managed to breach 1211.31 level and attempts to settle above it, reinforcing the continuation of our bullish trend expectations efficiently in the upcoming period, opening the way towards the bullish wave extension to reach 1249.94 as a next main station.
Therefore, the bullish bias will remain preferred for the rest of the day supported by the EMA50, unless witnessing clear break and stability below 1193.50 level.
Expected trading range for today is between 1193.50 support and 1220.00 resistance.
Expected trend for today: Bullish
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