Midday update for Gold 28-10-2016
Economies.com
2016-10-28 11:12AM UTC
Gold price hovers around the EMA50 and around the intraday bullish trend line that appears on chart, therefore, no change on the overall bullish trend scenario that depends on the stability above 1249.94 level, while its main targets begin at 1297.74.
We remind you that breaching 1249.94 level will extend the bullish wave to reach 1375.00 on the near term basis, while breaking 1249.94 level represents negative factor that will push the price to visit 1211.31 areas before any new attempt to rise.
Expected trading range for today is between 1255.00 support and 1297.74 resistance.
Expected trend for today: Bullish
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