Gold price breaches the resistance – Analysis - 18-07-2019

Gold price succeeded to confirm breaching the symmetrical triangle’s resistance that appears on the chart after ending yesterday’s trading above it, which supports the chances of continuing the bullish bias on the intraday and short term basis, waiting to test 1438.90 level as a next main station.

The EMA50 continues to support the price from below, to continue suggesting the bullish trend in the upcoming sessions, reminding you that breaching the mentioned level will push the price towards 1500.00 as a next main station, while the expected rise will remain valid unless breaking 1400.30 level and holding below it.

The expected trading range for today is between 1410.00 support and 1445.00 resistance.

The expected trend for today: Bullish