Gold price gathers the positive momentum – Analysis - 10-07-2020

Gold price shows negative trades to test 1800.00 barrier, noticing that stochastic gains the positive momentum clearly, as it reaches the thresholds of the oversold areas, while the EMA50 keeps supporting the price from below.

Therefore, we believe that the chances valid to resume the main bullish trend, organized inside the bullish channels that appear on the chart, waiting to head towards 1825.00 followed by 1855.00 levels that represents our next main targets, noting that the continuation of the bullish wave requires holding above 1770.00.

The expected trading range for today is between 1790.00 support and 1830.00 resistance.

The expected trend for today: Bullish