Gold price attempts positively – Analysis - 16-01-2020
Economies.com
2020-01-16 05:40AM UTC
Gold price continues to fluctuate around 1556.70 level, noting that stochastic provides negative signal that supports the chances of resuming the correctional bearish trend, which targets 1519.00 level mainly.
Therefore, we will keep our bearish overview for the upcoming period, noting that breaching 1556.70 and holding above it would stop the suggested decline and leads the price to resume the main bullish trend that its first target located at 1611.00.
The expected trading range for today is between 1530.00 support and 1565.00 resistance.
The expected trend for today: Bearish
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