Gold price leans on the channel’s support – Analysis - 13-07-2020

Gold price tested the intraday bullish channel’s support line and begins to rebound bullishly from there, as the EMA50 meets this support to add more strength to it, while stochastic continues to provide the positive signals.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that our waited targets rise to 1840.00 followed by 1860.00, while achieving them requires holding above 1775.00.

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

The expected trend for today: Bullish