Gold gets the positive momentum – Analysis - 21-10-2016

Gold price returns to fluctuate around the EMA50, accompanied by witnessing clear oversold signals through stochastic, which forms positive factor that we expect to assist to push the price to resume the bullish bias again, as the bullish trend still valid as long as the price is above 1249.94.

Therefore, we are waiting for positive trading in the upcoming sessions, and the main targets begin by surpassing 1297.74 barrier to extend the bullish wave towards 1340.00 followed by 1375.00, noting that breaking 1249.94 level will push the price to visit 1211.31 areas before any new attempt to rise.

Expected trading range for today is between 1249.94 support and 1285.00 resistance.

Expected trend for today: Bullish