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

Overview

The gold price keeps fluctuating within a tight track near the key resistance that declines now to $1,345.50. The price needs to breach this level to reinforce expectations for the main bullish trend continuation, which gets positive support by the EMA50. In general, we will keep our bullish overview for the upcoming period conditioned by the price stability above $1,310.65 and $1,297.75 support levels. Positive targets begin at $1,375.00 followed by $1,400.00. A break of the mentioned support levels will push the price to extend its bearish correction and visit $1,249.94 levels before any new attempt to rise. The expected trading range for today is between the $1,320.00 support and the $1,360.00 resistance.