Gold approaches the first target – Analysis - 23-11-2017
Economies.com
2017-11-23 05:31AM UTC
Gold price settles near 1290.00 level after the bullish rally yesterday, noticing that stochastic shows clear overbought level, which might force the price to provide some temporary sideways trading until getting enogh positive momentum to push the trading to rise again.
In general, bullish trend scenario remains valid if the price settles above 1281.17 and 1274.00 level, pointing that our first target at 1299.20, and breaching it will push the price to extend its gains to 1321.50 directly.
Expected trading range for today is between 1280.00 support and 1300.00 resistance.
Expected trend for today: Bullish
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