Midday update for Gold 07-09-2016

Gold price settles near the key resistance 1354.10, as the price needs to breach this level to reinforce the expectations of achieving more gains in the upcoming period, to open the way to test the previously recorded top at 1375.00 followed by heading towards 1400.00 as a next main target.

In general, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, unless we witnessed clear break for 1297.75 and holding with a daily close below it.

Expected trading range for today is between 1330.00 support and 1375.00 resistance.

Expected trend for today: Bullish