Gold price returns to the bearish channel – Analysis - 17-01-2024
Economies.com
2024-01-17 04:38AM UTC
Gold price confirmed breaking 2037.50 level and settled inside the intraday bearish channel again, to reactivate the bearish trend scenario on the intraday basis, waiting to test 2016.90 initially, noting that breaking this level will confirm extending the correctional bearish wave to reach 1977.46 as a next main station.
Therefore, we expect to witness more decline in the upcoming sessions supported by moving below the EMA50, noting that breaching 2040.00 will stop the negative scenario and push the price to test 2065.70 initially.
The expected trading range for today is between 2000.00 support and 2035.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Palladium driven lower by dollar's strength
2024-06-14 15:05PM UTC
Palladium prices fell on Friday as the dollar muscled up against most major rivals, and amid ...
Commodities
Gold prices rise 1.25% as US yields decline
2024-06-14 11:58AM UTC
Gold prices rose 1.25% in European trade on Friday on track for the first weekly profit in a month, ...
Commodities
Gold declines 1.5% as dollar strengthens
2024-06-13 18:59PM UTC
Gold prices fell on Thursday as the dollar rallied against most major rivals following ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 17-06-2024
2024-06-17 09:11AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price resumes its positive trades to ...
Commodities
Crude oil price forecast update 17-06-2024
2024-06-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price trades with clear positivity ...
Commodities
Silver price forecast update 17-06-2024
2024-06-17 09:10AM UTC
Silver Price Analysis Expected Scenario Silver price keeps its stability below 29.30$ ...