Midday Update of Gold 28-06-2017

Gold price fluctuates near 1254.56, maintaining stability below it. Negative pressure remains intact, supported by Stochastic move near overbought areas, and we are waiting to head towards 1229.32.

We note that the continuation of the expected decline depends on the stability below 1254.56, as the break will lead the price to stop the corrective downward pressure and then return to the main upward trend again.

The trading range for today is among the support at 1229.00 and resistance at 1260.00

The general trend for today is bearish