Midday update for Gold 27-10-2020
Economies.com
2020-10-27 10:38AM UTC
Gold price trades with clear negativity now after consolidating below 1910.00 level, to start pressing on 1901.80 level and moves below it now, which supports the chances of reactivating the bearish trend scenario again, motivated by stochastic negativity.
Therefore, the bearish bias will be expected for the rest of the day unless the price rallied to breach 1910.00 level and hold above it, noting that our next main target is located at 1860.90.
The expected trading range for today is between 1890.00 support and 1930.00 resistance.
The expected trend for today: Bearish
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