Midday update for Gold 29-06-2017

Gold price trades negatively since morning to move away from 1254.56 level, which supports the continuation of the expected bullish bias for today, targeting 1229.32 level mainly, where the price is under negative pressure that comes from the EMA50, which supports the continuation of the decline in the upcoming sessions.

Therefore, we will wait for more of the bearish bias if the trading settled below 1254.56 level, reminding you that breaching this level will lead the price to begin recovery attempts that target visiting the recorded top at 1295.37 initially.

Expected trading range for today is between 1229.00 support and 1260.00 resistance.

Expected trend for today: Bearish