Gold price within bullish track – Analysis - 21-09-2018

Gold price begins the attempts to breach 1208.40 level and moves above it now, noticing that the price trades within a bullish channel that carries the price from 1159.97 recorded low, while the EMA50 turns to provide the positive support to the price.

Therefore, these factors makes us suggest the bullish bias in the upcoming sessions, noting that breaching 1215.00 will stop the way to head towards 1238.31 that represents our next main target, while breaking 1200.00 will stop the expected rise and put the price under the negative pressure again.

Expected trading range for today is between 1200.00 support and 1230.00 resistance.

Expected trend for today: Bullish