Gold analysis for 28.10

Gold price trades positively: it breached the 1797.00 level and attempts to hold above it to activate the bullish trend scenario on the intraday term, which is regular within the bullish channel that appears on the chart. The price’s goal is to visit the 1825.15 level.

The moving average 50 supports the suggested positive scenario, as it carries the price from below. However, breaking the levels 1797.00 and then 1787.00 will stop the expected bullish trend and pressure the price to turn to the downside.

The expected trading range for today: between the support 1785.00 and the resistance 1820.00

The forecast trend for today: bullish