Gold price continues to fluctuate – Analysis - 16-07-2019

Gold price shows sideways trading since yesterday, moving near the EMA50 that continues to support the price from below, noticing that is confined inside a symmetrical triangle that appears on the chart, which means that breaching 1424.00 will provide good positive motive that supports the chances of continuing the main bullish trend.

Therefore, we believe that the chances are valid to continue the bullish trend in the upcoming sessions, which targets testing 1438.90 level as a next main station, reminding you that holding above 1400.30 is important to continue the suggested positive scenario.

The expected trading range for today is between 1400.00 support and 1430.00 resistance.

The expected trend for today: Bullish