Gold keeps the support base – Analysis - 29-06-2016

Gold price kept its stability above the key support base 1303.58 after approaching from retesting it yesterday, which is met by the EMA50 to add more strength to it, besides that stochastic provides bullish trend signals on the four hours’ time frame.

Therefore, these factors encourage us to continue suggesting the bullish trend on the intraday and short term basis, as the chances seem valid to trade positively in the upcoming sessions, and the targets begin by breaching 1333.00 barrier to reinforce the chances of targeting 1400.00 areas, taking into consideration that holding above 1303.58 represents key condition to continue the suggested positive scenario.

Expected trading range for today is between 1300.00 support and 1360.00 resistance.

Expected trend for today: Bullish