Midday update for Gold 23-10-2017

Gold price crawls downwards gradually to move away from 1281.17, thus, the bearish trend scenario will remain active in the upcoming sessions, waiting to visit 1263.15 level as a next main station, noting that breaking this level will push Gold price to suffer more losses that reach to 1240.85.

Note that breaching 1281.17 will push the price to test the most important resistance to the short term trading at 1299.20, which breaching it represents the key to stop the current correctional bearish trend and regain the main bullish track again.

Expected trading range for today is between 1263.00 support and 1285.00 resistance.

Expected trend for today: Bearish