Overview

The tight range continues to dominate in gold price trading. The price moves near the key resistance that declines now to $1,345.00, and the EMA50 keeps providing the positive support to the price, while stochastic attempts to gain the positive momentum on the intraday basis. Therefore, these factors favor the bullish trend scenario in the upcoming period, which main targets begin at $1,375.00 and extend to $1,400.00. The continuation of the expected rise depends on holding above $1,310.65 and $1,297.75 levels. The expected trading range for today is between the $1,320.00 support and the $1,360.00 resistance.