Midday update for Gold 23-02-2017

The tight range controls Gold price trading since morning, which remains stable above the EMA50, as we mentioned in our last report, the price needs to breach 1242.00 level to reinforce the expectations for the bullish trend continuation on the short term basis, then opens the way towards our targets that begin at 1249.94 and extend to 1270.00.

Therefore, the bullish trend scenario will remain active for today unless breaking 1233.00 and the most important 1222.90 levels and holding below them.

Expected trading range for today is between 1225.00 support and 1250.00 resistance.

Expected trend for today: Overall bullish