Midday update for Gold 13-07-2020
Economies.com
2020-07-13 09:13AM UTC
Gold price trades confined inside a minor bearish channel that appears on the chart, which we believe it forms bullish flag pattern that we are waiting to assist to push the price to achieve more gains in the upcoming sessions, and the price needs to breach 1808.00 to activate the positive effect of this pattern and open the way to achieve our positive targets that start at 1840.00 followed by 1860.00.
In general, we will continue to suggest the bullish trend for today supported by the EMA50, unless breaking 1775.00 level and holding below it.
The expected trading range for today is between 1790.00 support and 1830.00 resistance.
The expected trend for today: Bullish
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