Gold price confirms the breach – Analysis - 28-08-2018

Gold price confirmed breaching 1208.40 level after closing the daily candlestick above it, reinforcing the expectations of achieving more gains in the upcoming sessions, and the price gets positive support by the EMA50, waiting to visit 1238.30 level that represents our next main target.

Therefore, the bullish trend will remain suggested on the intraday and short term basis, noting that breaking 1208.40 and holding below it might push the price to test 1190.00 areas before any new attempt to rise.

Expected trading range for today is between 1195..00 support and 1225.00 resistance.

Expected trend for today: Bullish