Midday update for Gold 20-07-2017

Gold price shows some slight bearish bias since mornig, noticing that stochastic reaches the oversold areas' thresholds to form positive motive that we are waiting to assist to push the price to resume the bullish trend again, while the EMA50 continues to support the price from below.

Therefore, we will kep our bullish overview as long as 1229.32 level remains intact, reminding you that our first target is located at 1254.56, noting that breaching this level will push the price to head towards 1295.37 as a next main station.

Expected trading range for today is between 1229.32 support and 1254.56 resistance.

Expected trend for today: Bullish