Gold price hits the first target – Analysis - 16-04-2021
Economies.com
2021-04-16 01:12AM UTC
Gold price settles around 1765.00 level, noticing that the recent trades are confined inside a minor bearish channel that we believe it forms bullish flag pattern, thus, the chances valid to continue the bullish trend in the upcoming period, reminding you that the next target reaches 1800.00.
Therefore, we will be waiting for more rise on the intraday and short term basis, noting that breaking 1760.00 will stop the suggested rise and press on the price to turn to decline.
The expected trading range for today is between 1750.00 support and 1790.00 resistance.
The expected trend for today: Bullish
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