Gold needs positive motive – Analysis - 11-01-2017

Gold price returns to provide calm positive trading approaching from 1190.00 level, as the price gets continuous positive support by the EMA50, carried by the bullish trend line that appears on chart, waiting for more rise in the upcoming sessions.

Therefore, the bullish trend will remain suggested on the intraday and short term basis, our next target is located at 1211.31, and breaching this level will extend gold price gains to reach 1249.94 as a next main station, while holding above 1172.68 and 1160.00 levels represents key condition to continue the expected bullish trend.

Expected trading range for today is between 1172.68 support and 1211.31 resistance.

Expected trend for today: Bullish