Gold is stable – Analysis - 27/10/2014
Economies.com
2014-10-27 05:15AM UTC
Gold price’s trading settles in tight track below 1240.50 level, which keeps the negative pressure valid on the intraday basis, supported by the EMA50 besides stochastic losing the bullish momentum of gradually.
Therefore, the bearish trend expectations will remain valid in the upcoming period, and the main targets located at 1200.00, pointing that breaching 1240.50 level will reactivate the positive scenario again, and the targets begin at 1300.00.
Expected trading range for today is between: 1200.00 support and 1244.00 resistance.
Expected trend for today: Bearish
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