Midday update for Gold 23-06-2017

Gold price achieved an initial breach to 1254.56 level and attempts to settle above it, which requires being aware that the upcoming trading, where the daily close above this level will confirm stopping the negative pressure that controls the last trading and leads the price to return to the main bullish trend.

Now, the morning suggested scenario will remain valid unless confirming breaching the above mentioned level, pointing that the next correctional target at 1229.32, while confirming breaching 1254.56 will push the price to begin recovery attempts that target 1295.37 level initially.

Expected trading range for today is between 1229.30 support and 1260.00 resistance.

Expected trend for today: Bearish