Gold price breaches the resistance – Analysis - 20-01-2023

Economies.com
2023-01-20 04:11AM UTC

Gold price continued to rise to breach 1928.60 level and close the daily candlestick above it, to exit the sideways range and activate the positive scenario on the intraday basis, opening the way to achieve new gains that reach 1950.00 as a next station.

 

Therefore, the bullish bias will be suggested for the upcoming period supported by the EMA50, noting that failing to hold above 1928.60 will put the price under intraday negative pressure and head towards testing 1900.00 initially.

 

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

 

The expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold prices trade steady as dollar gains ground
2024-03-18 18:41PM UTC
Gold prices stabilize on Monday as markets await the crucial Federal Reserve’s policy meeting ...
Copper News

Commodities

Copper prices stabilize following Chinese data
2024-03-18 17:20PM UTC
Copper prices gained modest ground on Monday as markets pause to conduct proper inventory after the ...
Silver News

Commodities

Is silver trading at suitable levels for investment?
2024-03-18 11:57AM UTC
Silver prices declined in European trade on Monday off three-month highs on profit-taking as ...

Commodities Technical Analysis

Technical Analysis

Commodities

Wheat price surpasses the moving average – Forecast today - 19-03-2024
2024-03-19 02:24AM UTC
Wheat price traded with clear positivity yesterday to surpass the EMA50 and settles above it, ...
Technical Analysis

Commodities

Sugar price attempts positively – Forecast today - 19-03-2024
2024-03-19 02:24AM UTC
Sugar price provided new positive trades yesterday but it returned to test the EMA50 that continues ...
Technical Analysis

Commodities

Soybean price breaks the support – Forecast today - 19-03-2024
2024-03-19 02:24AM UTC
Soybean price broke 1193.10 level and closed the daily candlestick below it, to hint stopping the ...