Daily analysis of Gold for November 20, 2017

Overview

Gold price succeeded to reach our first expected target at 1,299.20, showing that a slight bearish bias is now affected by stochastic negativity. The metal is waiting to gain enough positive momentum to push the price to breach the mentioned level and open the way towards 1,321.50 that represents our next main target. In general, we still suggest the bullish trend in the upcoming sessions on condition that the price holds above 1,281.17. Breaking this level will push the price to test 1,263.15 areas again before any new attempt to rise. The expected trading range for today is between 1,281.00 support and 1,305.00 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of Gold for November 20, 2017