Gold gets a positive close – Analysis - 12-01-2018

Gold price managed to confirm breaching 1321.49 after closing the daily candlestick above it, reinforcing the expectations of achieving more gains on the intraday and short term basis, and the way is open to target 1357.53 level as a next station.

Therefore, the bullish trend will remain valid and active in the upcoming sessions supported by the EMA50, noting that breaking 1321.49 level will stop the suggested rise and push the price to test 1299.20 areas initially before any new attempt to rise.

Expected trading range for today is between 1320.00 support and 1340.00 resistance.

Expected trend for today: Bullish