Daily analysis of Gold for September 29, 2017

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Overview

Gold is trading with a bullish bias now, ready to breach the correctional bearish channel's resistance. The metal might head to test the key resistance at $1,299.20 before turning back to decline again. In general, we will keep our bearish outlook for today unless we witness a clear breach and gold holds above $1,299.20. Let me remind you that breaking $1,281.17 will confirm a further correctional bearish wave to reach $1,263.15. The expected trading range for today is between $1,270.00 support and $1,295.00 resistance.

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