Midday update for Gold 24-08-2016

Gold price fluctuates within tight track since morning settling below 1346.40 level, which keeps the negative pressure valid for today, to keep the bearish trend scenario dominant on the intraday trading, which targets testing 1310.65 followed by 1297.75 levels mainly.

We remind you that the expected decline is temporary unless breaking the above mentioned levels, waiting to rebound bullishly to continuing the main bullish trend, which will be reactivated in case the price succeeded to breach 1346.40 followed by 1360.90 levels and hold above them.

Expected trading range for today is between 1310.65 support and 1346.40 resistance.

Expected trend for today: Bearish