Midday update for Gold 09-01-2017

Gold price shows slight bullish trading now as a signal for the attempt to resume the main bullish trend, leaning on the critical support base at 1172.68, as long as the price above this level, so our bullish trend expectations will remain active for today, waiting for targeting 1211.31 level as a next main station, pointing that stochastic and the EMA50 provide good positive support for the suggested bullish trend scenario.

We remind you that breaking 1172.68 then 1160.00 level will stop the expected rise and pushes the price to visit 1124.88 levels before any new attempt to rise.

Expected trading range for today is between 1160.00 support and 1200.00 resistance.

Expected trend for today: Bullish