Midday update for Gold 29-07-2016
Economies.com
2016-07-29 11:24AM UTC
Gold price is testing the EMA50 keeping its stability above it, while stochastic begins to provide positive signals on the four hours' time frame, which supports the continuation of our bullish overview in the upcoming period, waiting to target 1375.00 mainly followed by heading towards 1400.00 as a next main target.
Holding above 1312.00 and 1297.75 levels represent key condition to the continuation of the expected rise, as breaking them will push the price to test 1249.75 areas before any new attempt to rise.
Expected trading range for today is between 1320.00 support and 1370.00 resistance.
Expected trend for today: Bullish
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