Gold gathers the positive momentum – Analysis - 23-03-2017

Gold price shows slight bearish trading after testing 1250.00 level yesterday, noticing that stochastic gets rid of its negativity clearly approaching from the oversold levels, to form positive motive that we wait to assist to push the price to continue the main bullish trend, waiting for surpassing 1250.00 barrier to ease the price mission to head towards the recorded top at 1263.17.

Therefore, we will keep preferring the bullish trend in the upcoming sessions supported by the EMA50, reminding you that holding above 1231.13 represents an important condition for the continuation of the suggested rise, where breaking it will push the price to visit 1211.30 level again before any new attempt to rise.

Expected trading range for today is between 1235.00 support and 1263.00 resistance.

Expected trend for today: Bullish