Gold awaits the breach – Analysis - 24-08-2017

Gold price keeps its stability inside the intraday bullish channel, getting continuous positive support by the EMA50, which forms positive motive that we are waiting to push the price to breach 1295.37 level and open the way to head towards our next targets that reach to 1312.00 followed by 1347.00.

Holding above 1280.00 represents key condition to continue the expected rise, as breaking it will push the price to test the most important support to the short term trading at 1254.56 before any new attempt to rise.

Expected trading range for today is between 1280.00 support and 1312.00 resistance.

Expected trend for today: Bullish