Gold gets the positive momentum – Analysis - 28-03-2017

Gold price leans now on the intraday bullish channel’s support that appears in the above chart, waiting for bouncing higher to resume the main bullish trend that organizes within the main bullish channel, where the price gets good support from the EMA50, while stochastic managed to surpass its negative momentum to gain the positive momentum on the four hours’ time frame.

Therefore, we believe that the chances for trading positively available in the upcoming sessions, and the expected targets begin to surpass 1263.17 to open the way towards 1300.00 $ per ounce barrier, being aware that breaking 250.00 will push the price to visit 1231.13 levels directly before any new attempt to rise.

Expected trading range for today is between 1245.00 support and 1270.00 resistance.

Expected trend for today: Bullish