Gold approaches from the target – Analysis - 19-09-2017
Gold price settles around 1307.00 level since yesterday, and the price declined clearly to approach from our main waited target at 1299.20, reminding you that this level represents 38.2% Fibonacci correction level for the rise measured from 1204.81 to 1357.53, which means that breaking it will push the price to head towards 1281.17 direct.
The organized trading inside the intraday bearish channel that appears on chart supports the chances of continuing the decline in the upcoming period, to keep the negative scenario valid and suggested unless the price managed to rally upwards to breach 1324.00 level and hold with a daily close above it.
Expected trading range for today is between 1290.00 support and 1321.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Silver gives up 12-year peak on profit-taking
Silver prices fell in European trade on Tuesday for the first time in three days away from 12-year ...
Commodities
Gold gives up record high on profit-taking
Gold prices fell in European trade on Tuesday for the first session in three days, giving up record ...
Commodities
Gold prices mount to fresh record highs for second straight session
Gold prices rose on Monday to a fresh record high while the dollar inched up against most main ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 21-05-2024
Brent Oil Price Analysis Expected Scenario Brent oil price crawls downwards to test the ...
Commodities
Crude oil price forecast update 21-05-2024
Crude Oil Price Analysis Expected Scenario Crude oil price provides new negative trades ...
Commodities
Gold price forecast update 21-05-2024
Gold Price Analysis Expected Scenario Gold price settles around the 2415.00$ level since ...