Gold continues to achieve gains – Analysis - 19-07-2017

Gold price shows sideways and tight fluctuation after the rise that it witnessed yesterday, as we need enough positive momentum to push trading to continue the main bullish trend, which is motivated by the completion of the inverted head and shoulders' pattern previously.

In general, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, as our next target is located at 1254.56, reminding you that breaching this level will push the price to head towards the previously recorded top at 1295.37, noting that holding above 1229.32 represents key condition to continue the expected rise.

Expected trading range for today is between 1229.32 support and 1254.56 resistance.

Expected trend for today: Bullish