Gold price keeps its positive stability – Analysis - 26-02-2020

Gold price attempted to break 1635.20 but it keeps its stability above it until now, which keeps the bullish trend scenario valid for the upcoming period, reinforced by Stochastic positivity that appears on the four hours’ time frame, waiting to breach 1655.90 level to open the way to head towards 1720.00 that represents our next main station.

The EMA50 keeps supporting the price from below, taking into consideration that breaking 1635.20 will force the price to achieve more bearish correction and visit 1601.70 areas before any new attempt to rise.

The expected trading range for today is between 1630.00 support and 1665.00 resistance.

The expected trend for today: Overall Bullish