Gold price keeps its positive stability – Analysis - 02-04-2020

Gold price tested 1571.20 and kept its stability above it, while stochastic begins to rise to provide positive signals that support the chances of resuming the bullish bias in the upcoming sessions, waiting to test 1599.10 level initially, noting that breaching this level is required to confirm the continuation of the bullish wave and achieve positive targets that start at 1633.60 and extend to 1689.30.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by the stability of the daily close above 1571.20.

The expected trading range for today is between 1570.00 support and 1610.00 resistance.

The expected trend for today: Bullish