Overview
Gold price resumed its positive trading yesterday, and it's starting to test 1,270.00 now, where the EMA50 continues to provide positive support for the price, while stochastic provides positive overlapping signal on the four hours time frame. Therefore, we still prefer the bullish trend on the intraday and short-term basis. The next target is located at 1,303.58, taking into consideration that holding above 1,243.17 represents an important condition for continuing the expected rise.
The expected trading range for today is between 1,250.00 support and 1,300.00 resistance.
