Gold price is retesting – Analysis - 19-01-2021
Economies.com
2021-01-19 05:23AM UTC
Gold price retested the previously broken support of the bearish pennant pattern and keeps its stability below it, to keep the negative pressure valid for the upcoming period, supported by stochastic and the EMA50 negativity, waiting to head towards 1800.00 as a first negative target.
On the other hand, we should note that breaching 1838.10 followed by 1848.60 levels will stop the negative scenario and push the price to resume the main bullish trend again.
The expected trading range for today is between 1810.00 support and 1850.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Palladium sharpens decline to below $1000 an ounce
2023-12-08 16:57PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to ...
Commodities
Gold edges up ahead of US jobs data
2023-12-08 08:12AM UTC
Gold prices rose in European trade on Friday for the third straight session ahead of US monthly ...
Commodities
Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...
Commodities Technical Analysis
Commodities
Evening update for Gold 08-12-2023
2023-12-08 15:05PM UTC
Gold price broke the bullish channel’s support line clearly and closed the last four ...
Commodities
Midday update for Brent oil 08-12-2023
2023-12-08 10:36AM UTC
Brent oil price attempted to breach 75.60 level but it returned to fluctuate below it again, which ...
Commodities
Midday update for Crude oil 08-12-2023
2023-12-08 10:36AM UTC
Crude oil price traded with additional positivity to attack 70.50 level but it returned to trade ...