Gold price breaches the resistance – Analysis - 10-01-2019

2019-01-10 04:57:48 GMT (Economies.com)
Gold price breaches the resistance – Analysis - 10-01-2019
 

Gold price rallied bullishly to breach 1295.00 level and settles above it, noticing that the price completed forming a bullish pennant pattern that appears on the chart, which forms positive motive to push the price to achieve more gains in the upcoming period, targeting 76.4% Fibonacci correction level at 1316.65 as a next station.

 

Therefore, the bullish trend will be suggested for today, supported by the EMA50, unless breaking 1286.70 level and holding below it again.

 

Expected trading range for today is between 1285.00 support and 1316.00 resistance.

 

Expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.1358
-0.0013
0.1156%
1.2684
-0.0056
0.4388%
15.294
-0.048
0.310%
58.837
1.235
2.144%
65.05
0.19
0.29%
1413.635
14.625
1.045%
 
 
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