Daily analysis of Gold for July 14, 2017

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Overview

The Gold price settles around 1,214.30 level, and stochastic managed to reach the oversold areas, to form positive factor that we expect to assist to push the price to rebound bullishly and resume the bullish bias again, waiting to visit 1229.32 level initially. Therefore, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 1,208.92 level and holding below it, as breaking this level will push the price to visit 61.8% Fibonacci correction level at 1188.52 before any new attempt to rise. The expected trading range for today is between 1205.00 support and 1235.00 resistance.The material has been provided by InstaForex Company - www.instaforex.com