Gold is waiting for a sure breach - Analysis - 21-08-2017

The price of gold ended last week with a significant negative after attempting to breach the 1295.37 level to trade near the support of the ascending channel shown on the chart above, noting that Stochastic was able to get rid of the negative and get a positive momentum on the four-hour time frame, 50 Continuous positive support.

Therefore, these factors encourage us to maintain our short and short term bullish expectations, whose targets start to breach the 1295.37 level to confirm the opening of the way towards 1312.00 and then 1347.00 mainly considering that a break of 1274.00 will press the price to test 1254.56 before any attempt New heights.

The trading range for today is among the key support at 1274.00 and resistance at 1300.00

The general trend for today is bullish