Gold price breaks the support – Analysis - 26-10-2020

Economies.com
2020-10-26 03:52AM UTC

Gold price ended last friday below 1901.80 level, starting today with bearish bias in attempt to move away from the mentioned level, which activates the bearish trend scenario on the intraday basis, on its way to head towards 1860.90 as a next negative target.

 

Therefore, the bearish bias will be expected for today, supported by moving below the EMA50, noting that breaching 1901.80 – 1908.60 levels will stop the suggested decline and push the price to recover again.

 

The expected trading range for today is between 1875.00 support and 1915.00 resistance.

 

The expected trend for today: Bearish

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

Technical Analysis

Commodities

Wheat price returns to the bullish correction – Forecast today - 29-03-2024
2024-03-29 01:50AM UTC
Wheat Price Analysis Expected Scenario: Continuing Bullish Momentum Wheat price rallied ...
Technical Analysis

Commodities

Sugar price completes the positive pattern – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Sugar Price Analysis Expected Scenario: Continuing Bullish Trend Sugar price managed to breach ...
Technical Analysis

Commodities

Soybean price keeps the positive stability – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Soybean Price Analysis Expected Scenario: Continuing Bullish Trend Soybean price attempted to ...