Gold price provides slight negative trades on its way towards a potential test to the EMA50, but as long as the price is above 1238.30, our bullish overview will remain valid for today, as our next target is located at 1262.50, reminding you that breaching this level will push the price towards 1286.70 on the near term basis.
Expected trading range for today is between 1240.00 support and 1265.00 resistance.
Expected trend for today: Bullish