Gold price keeps declining – Analysis - 16-05-2022
Economies.com
2022-05-16 04:09AM UTC
Gold price continues to decline, and attempted to surpass 1800.00 barrier, reinforcing the expectations of continuing the bearish trend, organized inside the bearish channel that appears on the chart, supported by the EMA50 that continues to press negatively on the price, reminding you that our next target is located at 1780.25.
Holding below 1850.00 is important to continue the suggested bearish wave, as breaching it will lead the price to turn to rise and start correctional bullish wave on the intraday basis.
The expected trading range for today is between 1785.00 support and 1825.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Coffee price collapses – Forecast today – 7-5-2024
2024-05-07 05:38AM UTC
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
2024-05-07 05:37AM UTC
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...
Commodities
Platinum price leans above the moving average – Forecast today – 7-5-2024
2024-05-07 05:31AM UTC
Expected Scenarios and Trading Range Scenario 1: Positive Stability Platinum price maintains ...