Midday update for Gold 03-10-2023

Gold price shows positive trades to head towards potential test to the key resistance 1838.35, as it is affected by stochastic current positivity, while the EMA50 continues to press negatively on the price, to continue suggesting the bearish trend for the upcoming period, which targets 1809.35 followed by 1765.20 levels after surpassing the previous level.

We remind you that the continuation of the bearish wave depends on the price stability below 1838.35, as breaching it represents the key to start bullish wave that targets visiting 1873.50 areas initially.

The expected trading range for today is between 1795.00 support and 1835.00 resistance.

The expected trend for today: Bearish