Overview

The price of gold has not shown any strong movements since morning. It keeps fluctuating near 1,255.00 level, keeping its stability above the initial support at 1.249.94. Notice that stochastics is getting rid of its negativity gradually to head towards the oversold levels, forming positive factor that we wait to assist to push the price to resume the bullish trend. Therefore, the main bullish trend scenario will remain valid and active on the intraday and short-term basis conditioned by holding above 1,249.94. We remind you that our next main target is located at 1,285.00. The expected trading range for today is between 1,245.00 support and 1,270.00 resistance.