Gold prices extended their gains in intraday trading, buoyed by positive signals from the Stochastic after forming a positive divergence, while the price leaned on the support of the 50-candle SMA, underpinning the price even further.

The EUR/USD price fell in recent intraday trading, amid the dominance of the downward correctional wave in the short term, with negative pressure due to trading below the 50-candle SMA, coupled with negative signals from the Stochastic despite reaching oversold levels.

Natural gas price was little changed as it stabilized below the $4.180 barrier, with the $4.050 level representing an extension to the support of the breached ascending channel, with the price now engaging in sideways trading near $3.920.

Our negative outlook holds for the time being, with the price potentially heading towards the support of $3.750, with a breach opening the door for more losses towards $3.650 then $3.520. 

Expected trading range today is between $3.750 and $4.050.

Today’s price forecast: Transiently Bearish

Platinum price closed lower once more below the 50% Fibonacci retracement level at $983, bolstering the odds of more losses as the price approaches the first target at $969.45.

As the Stochastic sends out negative signals, the price will likely head towards $963, then $950, however, a rush higher above $1000 would flip the scenario towards more gains, targeting $1017.

Expected trading range today is between $960 and $990.

Today’s price forecast: Bearish