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28.04.201715:20 Forex Analysis & Reviews: Daily analysis of Gold for April 28, 2017

Long-term review

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Overview

The gold price shows some slight bullish bias in attempt to move away from 1,263.17 levels. The price gets a positive signal through stochastic, which is likely to help the price surpass the EMA50, get rid of negative pressure and rally towards our positive targets at 1,282.00 and 1,300.00. Therefore, the positive scenario will remain active for the upcoming period unless breaking and holding below the 1,263.17 level as this break will push the price to test 1250.00 and might extend to 1237.00 before any new attempt to rise. The expected trading range for today is between the 1,255.00 support and the 1,290.00 resistance.

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