Midday update for Gold 24/04/2015
Gold price shows sideways trading since morning, settle below the bullish channel’s support, to keep the trading confined within the shaded sideways range in the above chart, which its line are represented by 1181.00 support and 1205.00 resistance, and we still waiting for breaching one of these levels to detect the next targets clearly.
Therefore, the sideways scenario will remain valid until now, pointing that breaching the above mentioned resistance will lead the price to head towards 1225.00 then 1244.00 levels initially, while breaking the support will stop the positive chances and pushes the trading towards 1142.60 mainly.
Expected trading range for today is between 1170.00 support and 1220.00 resistance.
Expected trend for today: Sideways
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