Daily analysis of Gold for January 09, 2018

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Overview

The gold price shows slight bearish bias on its way to testing the EMA50. As long as the price is above 1,299.20, our bullish overview will remain valid for today, reminding you that we need a breach of 1,321.49 for the price to head towards 1,357.53. Meanwhile, stochastic heads towards the oversold areas now in attempt to gain positive momentum that will help the price rise. The expected trading range for today is between the 1,310.00 support and the 1,335.00 resistance.

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