Midday update for Gold 18/12/2014

Gold price trades with strong positivity to begin testing the critical resistance at 1207.90 and the previously broken bullish channel’s support, which turns into resistance now at 1210.00, the price needs a confirmed breach to these levels by an initial four hours close to confirm the return to the gains way on the intraday basis.

Until now, we remain neutral until getting a confirmation signal for the next trend, by breaching one of the trend keys represented by the above- mentioned resistance and 1193.40 support, and to recognize the details of the expected targets from the breach, please look at our morning report. 

Expected trading range for today is between: 1178.85 support and 1226.00 resistance.

Expected trend for today: Neutral