Midday update for Gold 26-05-2017

Gold price trades with strong positivity since morning to breach 1263.00 level and attempts to settle above it, activating the bullish trend on the intraday basis, and the price needs four hours close initially to confirm the continuation of the bullish bias for the rest of the day.

Therefore, we prefer witnessing more of the upside moves in the upcoming sessions, supported by stochastic and the EMA50 positivity, pointing that our next main target at 1.295.37, while the suggested rise will remain valid unless breaking 1249.94 level and holding below it.

Expected trading range for today is between 1240.00 support and 1275.00 resistance.

Expected trend for today: Bullish