The recent gold price trades are confined within a bullish triangular flag pattern whose features appear in the above chart, and therefore, the price needs to breach the 1868.50 level to activate the positive effect of this pattern and then rush towards our positive targets that start at 1900.00 and 1915.00.
Therefore, our bullish trend expectations will remain valid and effective for the upcoming period, supported by the EMA50. Continuation of the bullish wave requires stability above the 1860.00 – 1856.00 levels.
The expected trading range for today: between the 1850.00 support and the 1885.00 resistance
The forecast trend for today: bullish