Daily analysis of Gold for July 13, 2017

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Overview

Gold price has settled around 1,220.00 after the rise yesterday. Please note that stochastic is making attempts to get rid of its negativity gradually. The metal is waiting to get enough positive momentum to push the price to resume the bullish trend again, as our first target is located at 1,229.32. In general, we still suggest the bullish outlook as long as the price holds above 1,208.92. Breaking this level will push the price to extend its bearish correction towards 1,188.52, while breaching 1,229.32 represents the key level to extend Gold price gains towards 1,254.56 directly. The expected trading range for today is between 1,210.00 support and 1,235.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com