Midday update for Gold 10-10-2019

Economies.com
2019-10-10 10:28AM UTC

Gold price shows sideways trading since morning and it remains below the resistance at 1518.00, which represents one of the next trend keys beside 1485.00 support, as we mentioned this morning, the price needs to breach one of these levels to detect its next target clearly, which makes us remain neutral until now.

 

The details of the expected targets from the breach appear in our morning report, pointing that the contradiction between the EMA50 positivity and stochastic negativity provides another reason for the neutrality.

 

The expected trading range for today is between 1485.00 support and 1530.00 resistance.

 

The expected trend for today: Neutral

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