Gold price gathers the positive momentum – Analysis - 05-11-2019

Gold price did not show any strong move yesterday, moving near the EMA50, noticing that stochastic gets rid of its negative momentum and reaches the oversold areas, while the EMA50 continues to support the price from below.

Therefore, these factors support the chances of bouncing bullishly to resume the expected bullish trend for the upcoming period, which targets 1535.00 followed by 1555.00 levels as next main stations, reminding you that it is important to hold above 1489.00 to achieve the suggested targets.

The expected trading range for today is between 1490.00 support and 1525.00 resistance.

The expected trend for today: Bullish