Gold 26-08-2016

Gold price provides slight positive trading to head towards the EMA50 that forms negative pressure against the intraday trading, noticing that stochastic enters the overbought areas now, to form negative factor that we are waiting to push the price to decline again.

Therefore, we will continue to suggest the intraday bearish trend for today unless breaching 1359.00 level and holding above it, reminding you that our main targets represented by testing the key support levels between 1310.65 and 1297.75.

Expected trading range for today is between 1297.75 support and 1340.00 resistance.

Expected trend for today: Bearish