Gold price finds strong resistance
Gold price bounced downwards slightly after touching 1575.90 level, which hints the importance of this level to determine the next destination, reminding you that we need to breach this level to confirm the extension of the bullish wave towards 1611.20.
Stochastic gets rid of its negative momentum and reaches the oversold areas, while the EMA50 continues to provide the positive support to the price, to keep our bullish overview on the intraday and short term basis unless breaking 1554.10 level and holding below it.
The expected trading range for today is between 1560.00 support and 1590.00 resistance.
The expected trend for today: Bullish


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