Gold price gets the positive momentum – Analysis - 29-08-2018
Economies.com
2018-08-29 05:18AM UTC
Gold price ended yesterday’s trading below 1208.40, but it starts today with calm bullish bias after the EMA50 formed good support barrier, accompanied by stochastic reach to the oversold areas, noticing that the price moves inside a minor bullish channel that appears on the chart.
Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, which targtes 1219.00 followed by 1238.31 levels, noting that breaking 1197.00 will stop the expected rise and push the price to decline again.
Expected trading range for today is between 1195..00 support and 1225.00 resistance.
Expected trend for today: Bullish
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