Midday update for Gold 31/03/2015

Gold price shows some bullish bias after the first test to 1181.00 level, supported by stochastic positivity, but the price still limited between the trend confirmation levels represented by the mentioned support and 1190.00 resistance, which makes us continue with our neutrality until the price manages to surpass one of these levels.

Note that breaching the mentioned resistance will reactivate the recently suggested bullish trend scenario, to target areas that start at 1205.00 and extend to 1225.00 then 1244.00, while breaking the support will push trading to return to the short term bearish track, and the first target is located at 1142.60.

Expected trading range for today is between: 1160.00 support and 1200.00 resistance.

Expected trend for today: Neutral