Gold price keeps its positive stability – Analysis - 20-11-2023

Gold price tested the first key support base 1975.00 and keeps its stability above it, accompanied by witnessing clear positive signals through stochastic, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets 2000.00 followed by 2009.30 levels as next main stations.

The EMA50 supports the price from below, reinforcing the expectations of continuing the bullish bias on the intraday basis, noting that breaking 1975.00 followed by 1962.35 levels will stop the positive scenario and push the price to return to the correctional bearish track again.

The expected trading range for today is between 1970.00 support and 2000.00 resistance.

The expected trend for today: Bullish