Overview
The gold price opens today's trading with bullish bias approaching the initial resistance at 1,154.76, poised to breach this level and head towards our main target at 1,172.68. This will keep our positive overview valid and active for the upcoming sessions, supported by stochastic and the EMA50 positivity. Therefore, we expect bullish bias today conditioned by the price stability above 1,124.88 as a break of this level is a negative factor that will push the price to 1,047.61 on the near-term basis. The expected trading range for today is between the 1,135.00 support and the 1,165.00 resistance.
