Gold breached the resistance again

Gold prices rallied sharply to the upside above the key resistance of the descending channel, which appears on the image, EMA 50 settled on top of the broken resistance meet to form a support line at 1251.00,Gives a positive signal for recovery efforts on a daily basis, which is mainly targeted at 1300.00.


On the other hand,  stochastic random negative signals that we prefer staying aside awaiting a signal confirmation for the next trend, break through the resistance level to break below 1266.00 or 1251.00, then 1248.00 in support of the show, to break below this level to trade as prices turn negative again.

The trading range for today is expected : Support and Resistance 1235.00 1278.00.

The trend is expected today:  Neutral