Gold price returns to the intraday bullish channel – Analysis - 07-07-2020

Gold price provided clear positive trades yesterday to succeed returning to the intraday bullish channel that appears on the chart, which adds more support to the continuation of the bullish trend scenario on the intraday and short term basis, waiting for more gains to visit 1800.00 followed by 1850.00 levels that represent our next positive targets.

The EMA50 keeps supporting the bullish wave, as it carries the price from below, noting that the continuation of the expected rise requires holding above 1770.00 and the most important above 1756.00 levels.

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

The expected trend for today: Bullish