Gold price breaks the support – Analysis - 27-05-2020
Economies.com
2020-05-27 04:33AM UTC
Gold price confirmed breaking 1725.90 after closing the daily candlestick below it, to head towards visiting 23.6% Fibonacci correction level for the entire rise measured from 1455.10 to 1764.04, located at 1691.10.
The intraday bearish channel’s resistance organizes the suggested bearish wave, noting that breaking the targeted level will extend the correctional bearish wave to target 1646.00 level as a next station, while the expected decline will remain valid unless the price rallied to breach 1725.90 followed by 1735.00 levels and holding above them.
The expected trading range for today is between 1690.00 support and 1725.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities
Oil prices try to recover from seven-week lows
2024-05-02 13:05PM UTC
Global oil prices rose in European trade on Thursday for the first time in five sessions away from ...
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities Technical Analysis
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:17PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the ...
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:16PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the main ...
Commodities
Brent oil price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Brent Oil Trading Report Brent oil price is testing 84.77$ level and attempts to consolidate ...