Gold needs the positive momentum – Analysis - 20-07-2017
Economies.com
2017-07-20 03:01AM UTC
Gold price settles around 1240.00 level, and the price might be forced to show more sideways fluctuation until stochastic manages to get rid of its negativity and gain enough positive momentum to continue the bullish trend, as the bullish trend scenario still valid and active as long as the price is above 1229.32.
The EMA50 keeps providing the positive support to the price to reinforce the chances of continuing the suggested positive scenario, reminding you that our next target is located at 1254.56, which breaching it represents the key to rally towards the previously recorded top at 1295.37 on the near term basis.
Expected trading range for today is between 1229.32 support and 1254.56 resistance.
Expected trend for today: Bullish
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