Midday update for Gold 16-10-2018
Economies.com
2018-10-16 09:40AM UTC
Gold price resumes its positive trading on its way towards our first target at 1238.31, to keep our bullish overview for the rest of the day, noting that stochastic continues to gather the positive momentum on the four hours’ time frame, waiting to motivate the price to breach the mentioned level and rally towards 1262.51 as a next target.
Therefore, we will continue to suggest the bullish trend for today conditioned by the price stability above 1208.40.
Expected trading range for today is between 1215.00 support and 1240.00 resistance.
Expected trend for today: Bullish
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