Midday update for Gold 19-07-2017
Economies.com
2017-07-19 09:51AM UTC
Gold price fluctuates with slight negativity since morning affected by stochastic negativity, while the EMA50 keeps providing positive support for the price, to keep the positive effect of the inverted head and shoulders pattern active, waiting for resuming the bullish bias that tragets visiting 1254.56 level mainly.
Therefore, we will keep our positive expectations for today unless breaking 1229.32 level and holding below it, where breaking this level will push the price to visit 1208.92 levels before any new attempt to rise.
Expected trading range for today is between 1229.32 support and 1254.56 resistance.
Expected trend for today: Bullish
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