Midday update for Gold 14-02-2017

Gold price showed initial breach to the falling wedge's resistance that appears on chart and close the last four hours' candlesticks above it, which supports the continuation of our bullish overview efficiently in the upcoming period, paving the way to head towards our next main target at 1249.94.

Therefore, we are waiting for more rise today conditioned by the price stability above 1221.50, which breaking it represents negative factor that will push the price to visit 1207.75 areas before any new positive attempt.

Expected trading range for today is between 1217.00 support and 1249.94 resistance.

Expected trend for today: Bullish