Gold at the main target’s threshold 16/04/2013

Economies.com
2013-04-16 05:03AM UTC

Gold price opens today’s trading with more strong negativity approaching from the first main target mentioned yesterday between 1310.00-1300.00, this level represents 50% Fibonacci for the whole bullish wave measured from 681.00 to 1920.00, while breaking it will provide a key for more downside correction towards the next target at 1158.00 – 61.8% Fibonacci-.

 

Now, we prefer to stay aside to confirm the next trend, as stochastic positivity might support the strength of the current levels and push the price for some recovery, while breaching above 1383.00 will motivate the price to visit 1448.00 levels.

 

Expected trading range for today is between: 1300.00 support and 1430.00 resistance.

 

Expected trend for today: Neutral

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
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 ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...