Midday update for Gold 24-03-2017

Gold price begins to provide positive trading now in its way to test the riding flag’s resistance that we mentioned this morning and it appears in the image, pointing that stochastic remains positive on the four hours time frame, which supports the continuation of the bullish trend for the rest of the day, waiting for breaching 1246.75 level to ease the price mission to head to our next target at 1263.17.

Therefore, we wait for more of the bullish bias in the upcoming sessions conditioned by holding above 1231.13 level, where breaking this level will push the price to decline to 1211.30 before any new attempt to rise.

Expected trading range for today is between 1231.00 support and 1263.00 resistance.

Expected trend for today: Bullish