Commodities

Midday update for Gold 23-10-2018

2018-10-23 09:33:48 GMT (Economies.com)

Gold price rallied upwards to breach 1230.00 level and settles above it now, to activate the positive effect of the bullish pennant pattern, motivated by stochastic positivity, waiting to test 1238.30 level as a first station, reminding you that breaching this level will lead the price to head towards 1262.50 on the near term basis, while holding above 1220.00 represents the first condition to continue the expected rise.

 

Expected trading range for today is between 1210.00 support and 1240.00 resistance.

 

Expected trend for today: Bullish

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