Midday update for Gold 05-09-2018

Gold price shows some slight bullish bias affected by stochastic positivity, but as long as the price is below 1208.40, our bearish overview will remain active, supported by the negative pressure provided by the EMA50, reminding you that our first target is located at 1180.00, while breaching 1208.40 represents the key to start recovery attempts that target 1220.00 followed by 1238.30 levels initially.

Expected trading range for today is between 1170.00 support and 1210.00 resistance.

Expected trend for today: Bearish