Midday update for Gold 28-07-2016
Economies.com
2016-07-28 11:01AM UTC
Gold price shows sideways and tight trading since morning settling around 1340.00 level, while the EMA50 continues to provide the positive support to the price, which keeps the bullish trend scenario valid for today, which its targets begin at 1375.00.
We remind you that the continuation of the bullish trend depends on the stability above 1312.00 and 1297.75 levels, as breaking these levels represents negative factor that will push the price to visit 1249.95 areas before any new attempt to rise.
Expected trading range for today is between 1325.00 support and 1370.00 resistance.
Expected trend for today: Bullish
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