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Gold crawls upwards – Analysis - 02-08-2016
Gold price trades with calm positivity in attempt to approach gradually from our first main target at 1375.00, as the price gets continuous positive support by the EMA50, which supports continuing to achieve gains in the upcoming period.
In general, the positive scenario will remain valid as long as the price is above 1312.00 and 1297.75 levels, waiting to breach 1375.00 level to reinforce the expectations of extending gold price gains to reach 1400.00 then 1440.00.
Expected trading range for today is between 1332.00 support and 1380.00 resistance.
Expected trend for today: Bullish
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