FX.co ★ Daily analysis of Gold for July 26, 2016

Overview

The gold price shows bullish rebound signals now in attempt to move away from the intraday bullish trend line shown on the chart. Stochastic positivity on the four-hour time frame supports our bullish trend expectations today. A breach of the 1,329.00 level will help the price continue with its upside track for the rest of the day. Our first main target is located at 1,375.00, and its breach will extend the bullish wave to 1,400.00 levels. The bullish trend will remain valid and active unless breaking and holding below 1,312.00 and then 1,297.75 levels. The expected trading range for today is between the 1,300.00 support and the 1,340.00 resistance.