Daily analysis of Gold for October 27, 2016

Overview

Gold price shows slight bullish bias supported by stochastic positivity that appears clearly on the four hours' time frame, to keep the bullish trend active for the rest of the day, waiting to target 1297.74 level mainly, which breaching it represents the key to extend gold price gains towards 1,375.00. Therefore, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 1,249.94 level and holding below it. The expected trading range for today is between 1,255.00 support and 1,297.74 resistance.

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