Overview
Gold price has settled at 1,263.17 and the price has fallen under continuous negative pressure formed by the EMA50. This makes it more difficult to resume the recently suggested bullish trend. The metal awaits to gain enough momentum to push the price up again. In general, we still suggest the bullish trend unless breaking 1,263.17 level and holding below it. Please note that our main targets begin by breaching 1,282.00 to confirm that the bullish wave is extending towards 1,300.00 followed by 1,340.00. The expected trading range for today is between 1,255.00 support and 1,290.00 resistance.
