Gold price needs the positive momentum – Analysis - 16-08-2019
Economies.com
2019-08-16 04:59AM UTC
Gold price continues to fluctuate around 1525.00 level, and it needs to get enough positive momentum to push trading to continue the main bullish trend, as the positive scenario still active supported by the EMA50, reminding you that breaching 1535.00 will ease the mission of heading towards our main waited target at 1560.00.
Holding above 1483.60 is important to continue the suggested rise, as breaking it will press on the price to achieve more bearish correction that targets testing 1452.00 and might extend to 1432.25 areas before any new attempt to rise.
The expected trading range for today is between 1505.00 support and 1540.00 resistance.
The expected trend for today: Bullish
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