Gold awaits the technical signals’ harmony – Analysis - 22/12/2014

Gold price continues to move within sideways track near the key support 1193.40, and we remind you that this level represents one of the next trend keys besides 1216.00 resistance, as the price needs to breach one of these levels to detect the next targets clearly.

Therefore, we will continue with our neutrality until now, and the contradiction between stochastic positivity and the EMA50 negativity is another reason for neutrality, reminding you that breaking the mentioned support will push the price to target 1179.00 followed by 1161.00 levels initially, while breaching the resistance represents good positive factor that supports achieving intraday gains, which targets 1255.00 mainly.

Expected trading range for today is between: 1178.85 support and 1226.00 resistance.

Expected trend for today: Neutral