Gold price around the moving average – Analysis - 18-10-2019
Economies.com
2019-10-18 05:09AM UTC
Gold price hovers around the EMA50 since yesterday, moving inside the bearish channel that appears on the chart, while stochastic shows overbought signals now.
Therefore, we believe that the chances are valid to resume the correctional bearish trend, which hits next main target located at 1447.00, noting that the bearish track will remain suggested unless the price rallied to breach 1507.50 level and hold above it.
The expected trading range for today is between 1470.00 support and 1505.00 resistance.
The expected trend for today: Bearish
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