Midday update for Gold 27-03-2017

Gold price shows tight and sideways trading since morning settled at 1257.00, and the price moves within an intraday bullish channel that carries the bullish wave since hitting 1195.28 level, waiting for hitting our main target at 1263.17, and breaching this level will extend the bullish wave to reach 1300.00 on the near term basis.

In general, we will keep our bullish trend expectations conditioned by holding above 1231.13, where breaking this level will push the price to decline towards 1211.30 levels directly before any new attempt to rise.

Expected trading range for today is between 1245.00 support and 1270.00 resistance.

Expected trend for today: Bullish