Gold price gets a positive close – Analysis - 16-10-2020
Economies.com
2020-10-16 04:00AM UTC
Gold price could not manage to hold for long time below 1901.80 level, to breach this level and settles above it again, which hints the price head to achieve expected gains in the upcoming sessions, on its way to visit 1934.86 level again.
Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, taking into consideration that breaking 1901.80 and holding below it will put the price under the negative pressure that targets 1880.00 followed by 1860.90 levels as next main stations.
The expected trading range for today is between 1890.00 support and 1935.00 resistance.
The expected trend for today: Bullish
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