Midday update for Gold 24-04-2017

Gold price fluctuates near the intraday bullish channel’s support level, while stochastic attempts to gain the bullish momentum gradually on the four hours’ time frame, to support the expectations for resuming the bullish trend in the upcoming sessions, waiting for visiting 1300.00 level initially.

Therefore, we will keep preferring the bullish trend for the rest of the day, and breaching the targeted level will extend gold gains to reach 1340.00, while breaking 1263.17 will push the price to test 1233.00 level before any new attempt to rise.

Expected trading range for today is between 1263.00 support and 1300.00 resistance.

Expected trend for today: Bullish