Update for Gold 05-06-2017

Gold price settles within tight range since morning near 1280.00 level, and the price keeps its stability above the bullish channel’s support that appears in the above chart, while the EMA50 keeps providing positive support for the price.     

Therefore, we will keep our bullish trend expectations valid without any change, waiting for visiting 1295.37 level initially, reminding you that breaching this level will extend gold gains to reach 1340.00, while holding above 1270.00 represents the first condition for the continuation of the suggested rise.     

Expected trading range for today is between 1270.00 support and 1300.00 resistance.     

Expected trend for today: Bullish

Lets make some money boys!!