Midday update for Gold 14-08-2017
Economies.com
2017-08-14 10:12AM UTC
Gold price shows slight bearish bias to fluctuate near 1280.00, accompanied with stochastic reach to the thresholds of the oversold levels, which supports the chances for bouncing higher and resuming the main bullish trend, waiting for breaching 1295.37 level to confirm opening the way towards 1312.00 that represents our next main target.
The EMA50 continues to provide positive support for the price, keeping the bullish trend scenario valid in the upcoming period unless breaking 1254.56 level and holding with a daily close below it.
Expected trading range for today is between 1275.00 support and 1300.00 resistance.
Expected trend for today: Bullish
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