Gold price gets positive close – Analysis - 02-06-2023
Economies.com
2023-06-02 03:55AM UTC
Gold prices closed the daily candlestick above 1977.25 level, starting today with slight bullish bias in attempt to move away from this level, which stops the correctional bearish scenario and lead the price to attempt to regain the main bullish trend again, paving the way to head towards 2019.90 as a first positive target.
Therefore, the bullish bias will be expected for today, supported by the EMA50 that carries the price from below, noting that breaking 1977.25 and holding below it will stop the bullish wave and push the price to decline again.
The expected trading range for today is between 1970.00 support and 2000.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...
Commodities
Crude oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price shows slight negative trades ...