Gold cannot settle so far 21/11/2012

The price wasn’t able to keep the daily close stability above 1731.00, to decline today attacking EMA50 which forms a support at 1722.00, which is considered as the critical factor to keep the chances of achieving the previous preferred bullish trend.

For today, we will keep preferring the bullish intraday bias, supported by Stochastic approaching from the oversold levels, taking into consideration that a four hours close below 1722.00 will significantly decrease the chances of achieving the suggested bullishness.

Expected trading range for today is between: 1710.00 support and 1750.00 resistance.

Expected trend for today: Bullish