Gold achieves more gains – Analysis - 15-01-2018

Gold price continues its bullish rally to approach our waited target at 1357.53, getting continuous positive support by the EMA50, waiting for more rise in the upcoming sessions, noting that breaching the mentioned level will extend Gold price gains to reach 1375.00 followed by 1405.00 on the short term basis.

Therefore, the bullish trend will remain dominant in the upcoming period unless breaking 1321.49 level and holding below it, as breaking it will push the price to test 1299.20 areas again before any new attempt to rise.

Expected trading range for today is between 1310.00 support and 1357.00 resistance.

Expected trend for today: Bullish