Gold faces the moving average – Analysis - 20-10-2017
Economies.com
2017-10-20 03:50AM UTC
Gold price ended yesterday's trading above 1281.17 level, but it faces solid resistance formed by the EMA50 against the positive attempts, which pushes the price to decline again, accompanied by witnessing negative overlapping signal through stochastic.
Therefore, we believe that the bearish bias will dominate the upcoming trading, and breaking 1281.17 level will confirm opening the way to head towards 1263.15, while the expected decline will remain valid unless the price managed to breach 1299.20 level and hold above it.
Expected trading range for today is between 1263.00 support and 1290.00 resistance.
Expected trend for today: Bearish
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