Gold tests the support base – Analysis - 23/10/2014
Economies.com
2014-10-23 05:24AM UTC
Gold price traded negatively yesterday’s evening to test 1240.50 level which returns to form an important support base after breaching it previously, accompanied by stochastic move within the oversold levels, providing positive support for the continuation of the suggested bullish trend scenario in our last reports, which gets good support from the EMA50.
Therefore, we will remain preferring the bullish trend in the upcoming period conditioned by holding above the mentioned support, pointing that our main targets reach towards 1300.00.
Expected trading range for today is between: 1231.00 support and 1265.00 resistance.
Expected trend for today: Bullish
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