Midday update for Gold 14-02-2017

Economies.com
2017-02-14 11:56AM UTC

Gold price showed initial breach to the falling wedge's resistance that appears on chart and close the last four hours' candlesticks above it, which supports the continuation of our bullish overview efficiently in the upcoming period, paving the way to head towards our next main target at 1249.94.

 

Therefore, we are waiting for more rise today conditioned by the price stability above 1221.50, which breaking it represents negative factor that will push the price to visit 1207.75 areas before any new positive attempt.

 

Expected trading range for today is between 1217.00 support and 1249.94 resistance.

 

Expected trend for today: Bullish

Commodities News

Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...
Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...