Gold price reaches the first target – Analysis - 20-02-2019
Economies.com
2019-02-20 05:13AM UTC
Gold price managed to reach the thresholds of our first waited target at the bullish channel’s resistance that appears on the chart, showing some slight bearish bias now affected by stochastic negativity, waiting to get positive motive that supports the chances of resuming the bullish wave that its next target located at 1365.05.
The EMA50 continues to support the price from below, to continue suggesting the bullish trend for today, noting that breaking 1336.50 might press on the price to decline towards 1320.00 followed by 1310.00 areas before any new attempt to rise.
The expected trading range for today is between 1330.00 support and 1365.00 resistance.
The expected trend for today: Bullish
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