Midday update for Gold 30-09-2016

Gold price shows positive attempts since morning after leaning on the main bullish trend line that appears on the above chart, as it negotiates the EMA50 now, which forms key resistance at 1326.50, and as we mentioned this morning, the price needs to breach this level to reinforce the expectations of continuing the bullish trend in the upcoming sessions, which targets 1375.00 followed by 1400.00 levels mainly.

Therefore, the bullish trend will remain suggested on the intraday and short term basis unless breaking 1319.50 followed by 1297.75 levels and holding below them.

Expected trading range for today is between 1310.00 support and 1350.00 resistance.

Expected trend for today: Bullish