Gold price tests the first target – Analysis - 29-10-2021
Economies.com
2021-10-29 04:46AM UTC
Gold price faces negative pressure now to test the first key support 1797.00, noticing that the price continues to move inside the intraday bullish channel, getting positive support by the EMA50, accompanied by stochastic reach to the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which its next target located at 1825.15, noting that breaking 1789.00 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1785.00 support and 1820.00 resistance.
The expected trend for today: Bullish
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