Midday update for Gold 25-07-2016

Gold price continues to fluctuate at the intraday bullish trend line keeping its stability above it, while stochastic begins to provide bullish rebound signals on the four hours' time frame, reinforcing the expectations of continuing the main bullish trend, and the price needs to breach 1329.70 level to ease the mission of heading towards our main targets that begin at 1375.00 and extend to 1400.00.

We remind you that breaking 1311.00 then 1297.75 levels will put the price under intraday negative pressure that targets testing 1249.95 level mainly before any new attempt to regain the main bullish trend.

Expected trading range for today is between 1300.00 support and 1350.00 resistance.

Expected trend for today: Bullish