Gold price consolidates above the support – Analysis - 01-02-2023
4 months ago

Gold price resumes the bullish track after consolidating above the bullish channel’s support line, settling above the EMA50 now, and it needs to get enough positive momentum to continue the rise and surpass 1928.60 to ease the mission of heading towards the next positive target at 1950.00.


Therefore, the bullish trend is expected for the upcoming period, organized inside the bullish channel that has positive targets that surpass the above mentioned level, noting that breaking 1912.80 will stop the suggested rise and press on the price to turn to decline.


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


The expected trend for today: Bullish

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