Gold price within tight track – Analysis - 21-10-2019
Economies.com
2019-10-21 04:53AM UTC
Gold price shows sideways and tight range trading to fluctuate near the EMA50, and it remains within the bearish channel that appears in the above chart, while stochastic returns to lose the positive momentum gradually.
Therefore, we will keep our bearish trend expectations unless breaching 1505.00 level and holding above it, pointing that breaking 1485.00 is required to confirm resuming the bearish trend that its next main target at 1447.00.
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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