Gold price hits the target – Analysis - 02-02-2023

Economies.com
4 months ago

Gold price succeeded to achieve our waited target at 1950.00 and breached it to settle above it by today’s open, which supports the continuation of the bullish trend on the intraday and short term basis, noting that the next positive station reaches 2000.00$ barrier.

 

The EMA50 continues to support the suggested bullish wave, noting that breaking 1950.00 will stop the current rise and press on the price to achieve some temporary bearish correction before resuming the bullish wave again.

 

The expected trading range for today is between 1940.00 support and 1975.00 resistance.

 

The expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold declines under pressure from the dollar
48 minutes ago
Gold prices declined in European trade for the first session in three under pressure from the ...
Gold News

Commodities

Gold extends gains but still trades below $2,000
14 hours ago
Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious ...
Copper News

Commodities

Copper loses momentum amid economic concerns and technical signals
17 hours ago
Copper prices stalled on Tuesday on continuous concerns about economic growth following weak US and ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price without any change – Analysis – 7-6-2023
4 hours ago
Natural gas price still waiting for any motivate to manage to exit the recently dominating calm ...
Platinum Analysis

Commodities

Platinum price fluctuates below the barrier – Analysis – 7-6-2023
4 hours ago
Platinum price still consolidated below 1040.00 barrier until now, to hinder the chances of ...
Copper Analysis

Commodities

Copper price needs new momentum – Analysis – 7-6-2023
4 hours ago
Copper price kept its positive stability above 3.5700 support line, to increase the chances of ...