Overview
The gold price shows some slight bearish bias now approaching from retesting the support base formed above the 1,303.58 level, accompanied by stochastic, which enters the oversold levels to provide positive motive that we waited to push the price to resume its main bullish track. Therefore, our bullish trend expectations will remain valid and active for today supported by the EMA50. We are waiting for a breach of the 1,331.00 level to confirm further movement to 1,400.00 levels. We remind you that holding above the 1,303.58 level is important for the price to achieve the suggested targets.
The expected trading range for today is between the 1,300.00 support and the 1,360.00 resistance.
The material has been provided by InstaForex Company - www.instaforex.com