Midday update for Gold 22-02-2017
Economies.com
2017-02-22 11:39AM UTC
Gold price shows positive attempts now approaching from 1239.00 level, as we mentioned this morning, the price needs to breach this level to confirm the continuation of the bullish trend in the upcoming period, leaning on the EMA50, and its next target located at 1249.94.
Therefore, our bullish trend expectations will remain valid for the rest of the day conditioned by holding above 1232.00 and the most important above 1221.00, reminding you that breaching 1249.94 level will extend gold gains to reach 1270.00 as a next main station.
Expected trading range for today is between 1221.00 support and 1250.00 resistance.
Expected trend for today: Overall bullish
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