Midday update for Gold 05/02/2016
Economies.com
2016-02-05 11:23AM UTC
Gold price shows slight positive trading since morning in attempt to move away from 1150.56 level, which supports the continuation of our bullish trend expectations in the upcoming period, which depends on the stability above 1130.60 level, while the price gets a continuous positive support from the EMA50.
Therefore, we wait for targeting 1182.80 then 1200.00 in the upcoming period, pointing that the price might be forced for some temporary sideways fluctuation affected by stochastic current negativity before resuming the waited rise.
Expected trading range for today is between 1140.00 support and 1182.80 resistance.
Expected trend for today: Bullish
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