Gold attempts positively – Analysis - 24-10-2017
Gold price closed yesterday's trading above 1281.17 level, noticing that the last decline is confined inside falling wedge pattern that its signs appear on chart, as the price attempts to breach its resistance and moves above its resistance now, which hints the price head to regain the main bullish trend again and stop the negative pressure that dominated the recent trades.
Therefore, the bullish bias will be suggested in the upcoming sessions, and the targets begin by testing 1299.20 level, noting that breaking 1281.17 and trading below it again will reactivate the correctional bearish trend scenario that its next target located at 1263.15.
Expected trading range for today is between 1270.00 support and 1295.00 resistance.
Expected trend for today: Bullish
Commodities News
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities
Oil prices extend losses, with Brent plumbing five-week lows
Oil prices fell in American trade on Tuesday, extending losses for the third straight session, with ...
Commodities
Gold logs in first weekly loss in five weeks
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities Technical Analysis
Commodities
Wheat price tests the support base – Forecast today - 02-05-2024
Wheat Price Analysis Expected Scenario Wheat price continues to press on 597.10$ support ...
Commodities
Soybean price attempts to recover – Forecast today - 02-05-2024
Soybean Price Analysis Expected Scenario Soybean price begins today with clear positivity to ...
Commodities
Corn price surpasses the resistance – Forecast today - 02-05-2024
Corn Price Analysis Expected Scenario Corn price resumed its positive trading clearly to ...