Jairo Da Silva Almeida

Midday update for Gold 08-09-2016

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
32 0 2
Gold             price provides slight positive attempts now approaching from the waited-to-be-breached resistance at 1353.50, as stochastic begins to provide positive overlapping signal now, to support the chances of breaching the mentioned level followed by pushing the price to continue the main bullish trend .

Therefore, the bullish trend will remain valid and active for the upcoming sessions supported by the EMA50, reminding you that our main targets begin at 1375.00 and extend to 1400.00, taking into consideration that the continuation of the suggested rise depends on the stability above 1297.75.

Expected trading range for today is between 1330.00 support and 1375.00 resistance.

Expected trend for today: Bullish
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