FX.co ★ Daily analysis of Gold for June 30, 2016

Overview

The gold price showed positive trading yesterday, but it is again fluctuating with slight negativity. The price is affected by stochastic negativity shown on the four-hour time frame that is likely to get rid of this negativity and gain enough positive momentum to make the price resume the main bullish wave, which gets continuous support from the EMA50. Therefore, we still expect the bullish trend on the intraday and short-term bases conditioned by the price stability above the 1,303.58 level. A breach of 1,335.00 levels will ease the mission of heading towards our next main target at 1,400.00. The expected trading range for today is between the 1,300.00 support and the 1,360.00 resistance.