Gold price negotiates the intraday support – Analysis - 30-10-2018

Gold price hovers around the EMA50 and keeps its stability above the intraday support line that appears on the chart, while stochastic continues to provide the positive signals.

Therefore, we believe that the chances are valid to resume the expected bullish trend on the intraday and short term basis, which targets breaching 1238.30 to confirm extending the bullish wave towards 1262.50, noting that the continuation of the expected rise conditions holding above 1220.00 and the most important above 1208.40.

Expected trading range for today is between 1220.00 support and 1250.00 resistance.

Expected trend for today: Bullish