Daily analysis of Gold for April 17, 2018

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Overview

Gold price is trading with a slight bearish bias, affected by stochastic negativity, but the EMA50 is still providing positive support for the price as long as the price is above 1,335.40. So, our bullish trend expectations will remain active, waiting for testing 1,365.97 as an initial station. Let me remind you that breaching this level will extend gold gains to reach 1,400.00 as an initial main station. The expected trading range for today is between 1,335.00 support and 1,370.00 resistance.

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