Overview
Gold price shows tight and sideways trading since morning. The price settled at 1,257.00 it moves within an intraday bullish channel that carries the bullish wave since hitting 1,195.28 level, waiting for hitting our main target at 1,263.17. Breaching this level will extend the bullish wave to reach 1,300.00 in the near term. In general, we will keep our bullish trend expectations conditioned by holding above 1,231.13, where breaking this level will push the price to decline towards 1,211.30 level directly before any new attempt to rise. The expected trading range for today is between 1,245.00 support and 1,270.00 resistance.
