Gold Needs Positive Support - Analysis - 18-08-2017

The price of gold is showing steady sideways trading near our first target at 1295.37, and the price remains steady within the bullish intraday channel shown above, as the SMA 50 continues to provide positive price support to protect intraday trading, while stochastic Passive Torque.

Therefore, these factors encourage us to maintain our expectations for the bullishness over intraday and short term basis, awaiting the breach of 1295.37 to confirm the opening of the way towards 1312.00 and then 1347.00, taking into consideration that stability above 1254.56 is the most important condition for achieving the objectives proposed.

The trading range for today is among the key support at 1275.00 and resistance at 1300.00

The general trend for today is bullish