Midday update for Gold 30-06-2016
Economies.com
2016-06-30 11:06AM UTC
Gold price shows sideways and tight range trading since morning keeping its stability above 1303.58 level, noticing that stochastic manage to get rid of its negativity and gained clear positive momentum on the four hours time frame, which forms positive motive that we wait to push the price to resume the main bullish trend, which depends mainly on the stability above the mentioned level.
The EMA50 continues to support the expected bullish wave, and its target begin by surpassing 1335.00 barrier to confirm opening the way towards our next main target that located at 1400.00.
Expected trading range for today is between 1300.00 support and 1360.00 resistance.
Expected trend for today: Bullish
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