Gold price settles above 1660 level and attempts to gain the positive momentum on the intraday time frames, while the EMA50 continues to support the price from below.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, waiting to visit 1686.40 level as a next main target, reminding you that the continuation of the bullish wave depends on the price stability above 1660.
The expected trading range for today is between 1650 support and 1686 resistance, and the expected trend for today: Bullish.