Gold price continues to fluctuate – Analysis - 16-07-2019

Economies.com
2019-07-16 04:49AM UTC

Gold price shows sideways trading since yesterday, moving near the EMA50 that continues to support the price from below, noticing that is confined inside a symmetrical triangle that appears on the chart, which means that breaching 1424.00 will provide good positive motive that supports the chances of continuing the main bullish trend.

 

Therefore, we believe that the chances are valid to continue the bullish trend in the upcoming sessions, which targets testing 1438.90 level as a next main station, reminding you that holding above 1400.30 is important to continue the suggested positive scenario.

 

The expected trading range for today is between 1400.00 support and 1430.00 resistance.

 

The expected trend for today: Bullish

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

Oil Analysis

Commodities

End of day crude oil price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Crude oil price breached 82.40$ strongly to rally upwards and approach our waited target at 83.56$, ...
Gold Analysis

Commodities

End of day gold price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Gold price rallied upwards strongly to succeed touching our waited target at 2222.86$ and attempts ...
Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...