Gold attempts positively – Analysis - 24-10-2017

Economies.com
2017-10-24 03:36AM UTC

Gold price closed yesterday's trading above 1281.17 level, noticing that the last decline is confined inside falling wedge pattern that its signs appear on chart, as the price attempts to breach its resistance and moves above its resistance now, which hints the price head to regain the main bullish trend again and stop the negative pressure that dominated the recent trades.

 

Therefore, the bullish bias will be suggested in the upcoming sessions, and the targets begin by testing 1299.20 level, noting that breaking 1281.17 and trading below it again will reactivate the correctional bearish trend scenario that its next target located at 1263.15.

 

Expected trading range for today is between 1270.00 support and 1295.00 resistance.

 

Expected trend for today: Bullish

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