Gold draws positive formation 09/07/2013

Gold price keeps recovering, approaching from the critical resistance 1270.00, while there are signs of a double bottom pattern which is forming now, which means that breaching its neckline – 12700 – will provide bullish targets that reach towards 1360.00

Therefore, we will prefer more bullish bias for today, but with the fulfillment of two main conditions, the first one is a clear breach above 1270.00, and the second is the stability above 1213.00

Expected trading range for today is between: 1220.00 support and 1300.00 resistance.

Expected trend for today: Bullish