Gold faces intraday resistance – Analysis - 13-03-2018

Gold price finds solid resistance at the EMA50, which pushes the price to provide negative trades now, and it might show new test to 1316.48 level before resuming the positive attempts.

Until now, the bullish trend scenario still valid for the upcoming period unless breaking 1316.48 level and holding below it, as breaking it will push the price to visit 1301.20 areas before any new attempt to rise, while the expected bullish wave targets begin at 1335.40 followed by 1348.00 on the near term basis.

Expected trading range for today is between 1305.00 support and 1340.00 resistance.

Expected trend for today: Bullish