Gold price needs a positive motive – Analysis - 19-02-2019

Gold price shows sideways and tight trading, settling around 1325.00, as the price is affected by stochastic negativity, waiting to get rid of the negative momentum and gain enough positive momentum to push the price to resume the expected bullish wave for the upcoming period, organized inside the bullish channel that appears on the chart.

The EMA50 keeps supporting the price from below, to continue suggesting the bullish trend for today conditioned by the price stability above 1314.00 and 1307.00 levels, reminding you that we are waiting to target 1347.50 followed by 1365.05 levels as next main stations.

The expected trading range for today is between 1310.00 support and 1347.00 resistance.

The expected trend for today: Bullish