Gold analysis for 18.11

Gold price is trading above 1860.00, which keeps the bullish trend scenario valid and effective for the upcoming period. It is also supported by the EMA50 that carries the price from below. The price is waiting to head towards 1900.00, our next main target.

The current negativity of the stochastic indicator may cause sideways fluctuation before resuming the awaited positive trades. Breaking the 1860.00 level and stabilizing below it will pressure the price down in the intraday term and perform some bearish correction before rising again.

The expected trading range for today: between the 1850.00 support and the 1885.00 resistance

The forecast trend for today: bullish