Midday update for Gold 20-02-2017
Economies.com
2017-02-20 11:22AM UTC
Gold price begins attempts to resume the bullish trend after leaning on the bullish channel’s support that appears in the above chart, noticing that stochastic begins to overlap positively, to reinforce the chances for the continuation of the rise for the rest of the day.
Therefore, the bullish trend scenario will remain valid efficiently for the rest of the day, supported by the EMA50, and its targets begin at 1249.94 then 1270.00, while its continuation conditioned by holding above 1230.00 level.
Expected trading range for today is between 1220.00 support and 1250.00 resistance.
Expected trend for today: Bullish
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