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

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