Gold needs strong motive – Analysis - 28-10-2016

Economies.com
2016-10-28 03:41AM UTC

Gold price did show strong move yesterday, to continue fluctuating around the EMA50, while stochastic shows bullish trend signals on the four hours' time frame, waiting to motivate the price to resume the main bullish trend, which its main targets begin at 1297.74.

 

Therefore, our bullish overview will remain valid and active conditioned by the price stability above 1249.94 level, reminding you that breaching the targeted level will extend gold price gains to reach 1375.00 as a next main station.

 

Expected trading range for today is between 1255.00 support and 1297.74 resistance.

 

Expected trend for today: Bullish

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