Gold price settles above the resistance – Analysis - 16-11-2018
Economies.com
2018-11-16 05:06AM UTC
Gold price closed yesterday’s trading above 1212.00 level, which forms positive factor that we expect to push the price to rise in the upcoming sessions, targeting visiting 1238.30 level mainly.
Therefore, the bullish bias will be suggested on the intraday basis supported by moving above the EMA50, noting that breaking 1212.00 followed by 1208.40 levels will stop the expected rise and push the price to resume the main bearish trend again.
Expected trading range for today is between 1200.00 support and 1230.00 resistance.
Expected trend for today: Bullish
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