Midday update for Gold 17-10-2017

Gold price keeps declining to surpass the EMA50 and approaches from the key support 1281.17, accompanied by stochastic entering the oversold areas, and as we mentioned this morning, holding above the mentioned level will keep the bullish trend scenario active for today, reminding you that breaching 1305.00 will ease the mission of achieving the positive targets that begin at 1321.49 and extend to 1357.53.

On the other hand, we should note that breaking 1281.17 will push the price to suffer more losses that reach to 1263.15 before any new positive attempt.

Expected trading range for today is between 1285.00 support and 1310.00 resistance.

Expected trend for today: Bullish