Midday update for Gold 07/10/2015

Gold price fluctuates near 1150.00 level since morning, while stochastic attempts to get rid of its negativity and gaining enough positive momentum to push the price to resume the bullish trend, which gets good support from the EMA50, waiting for heading to 1170.00 then 1200.00 as initial main targets.

In general, we will keep preferring the bullish trend if the price settled above 1135.50 level, pointing that breaching 1156.50 level will ease achieving the above mentioned targets.

Expected trading range for today is between 1135.00 support and 1170.00 resistance.

Expected trend for today: Bullish