Gold settles positively 07/02/2013

Economies.com
2013-02-07 05:31AM UTC

 

Gold price remains stable above EMA50, to keep our bullish trend expectations valid and active, where we are waiting for the main target at 1692.00, which represents the conjunction of the correctional bearish channel resistance with 38.2% Fibonacci.

 

Breaking below 1665.00 then 1660.00 will stop the positive scenario and leads to a downside turn in the intraday trading.

 

Expected trading range for today is between: 1660.00 support and 1692.00 resistance.

 

Expected trend for today: Bullish 

 

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