Gold leans on the support – Analysis - 18-10-2017

Gold price leaned on the key support 1281.17 and begins rising from there, supported by the positive overlapping signal provided by stochastic on the four hours' time frame, and we believe that the chances are valid to achieve more gains in the upcoming period, waiting to test 1299.20 – 1305.00 levels initially.

We remind you that breaching the last level will complete forming positive formation that has ability to push the price towards 1357.53 areas on the near term basis, while the suggested positive scenario will remain valid and active unless breaking 1281.17 level and holding below it.

Expected trading range for today is between 1280.00 support and 1305.00 resistance.

Expected trend for today: Bullish