Gold analysis for 17.11

Gold price ended yesterday’s trading with noticeable negativity and settled below 1860.00. However, the stochastic indicator gained positive momentum, and we expect it to motivate the price to rise again, while the EMA50 continues to support the price from below.

Therefore, we are likely to witness positive trades in the upcoming sessions. The price needs to rise above 1860.00 to confirm the continuation of the rally towards 1900.00 as the next main target. Failure to breach 1860.00 will put the price under additional negative pressure, and it will visit the 1835.00 areas and then 1825.15 before any new positive attempt.

The expected trading range for today: between the support 1840.00 and the resistance 1880.00

 The forecast trend for today: bullish