Gold price faces negative pressure – Analysis - 31-08-2018
Economies.com
2018-08-31 03:34AM UTC
Gold price closed yesterday’s trading below the intraday bullish channel’s support line that appears on the chart, which puts the price under potential negative pressure in the upcoming period, making the bearish trend suggested for today, targeting visiting 1180.00 level as a first main station.
Holding below 1208.40 level will keep the negative overview valid, as breaching it will reactivate the bullish trend scenario again, which has positive targets that start at 1225.00 and extend to 1238.31.
Expected trading range for today is between 1180.00 support and 1210.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities
Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
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 Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...