Midday update for Gold 21-07-2016

Gold price approaches from the bullish bias now after approaching from our mentioned targets in our last reports, where the price affected by stochastic positivity, which provides signals for curving to the upside and attempt to resume the main bullish trend after the temporary decline that controlled the last trading.

Therefore, the bullish trend will be preferred in the upcoming sessions, breaching 1331.00 level will confirm the continuation of the bullish wave on the short- term basis, and the positive targets begin at 1375.00, being aware that breaking 1297.75 level will stop the suggested positive scenario and pushes the price to decline towards 1249.95 mainly.

Expected trading range for today is between 1300.00 support and 1340.00 resistance.

Expected trend for today: Bullish