Gold price shows sideways and tight trades since morning, settling near 1208.40 level, which represents 23.6% Fibonacci correction level, waiting to breach this level to confirm extending the correctional bullish wave towards 1238.30.
Until now, the bullish trend scenario will remain active in the upcoming sessions unless breaking 1192.00 level and holding below it, noting that the EMA50 supports the suggested bullish wave.
Expected trading range for today is between 1195..00 support and 1225.00 resistance.
Expected trend for today: Bullish