Gold price loses momentum – Analysis - 18-11-2019

2019-11-18 05:50:17 GMT (Economies.com)
 

Gold price continues to fluctuate near the correctional bearish channel and still below it, noticing that stochastic loses the positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.

 

Therefore, these factors encourage us to suggest the bearish trend in the upcoming sessions, which targets testing 1447.00 level initially, noting that breaching 1470.00 will push the price to visit 1489.00 level before any new attempt to decline.

 

The expected trading range for today is between 1447.00 support and 1475.00 resistance.

 

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1062
0.0000
0.0018%
1.3147
0.0009
0.0723%
Tadawul
8120.01
21.27
0.26%
16.591
0.019
0.114%
58.965
-0.145
0.245%
64.32
-0.07
0.11%
1460.165
0.320
0.022%
 
 
Live Forex Updates