Gold price suffers sharp losses – Analysis - 22-09-2020
Economies.com
2020-09-22 04:05AM UTC
Gold price faced strong negative pressure as we mentioned in our technical updates yesterday and attempted to break 1901.80 level, to witness negative formation that hints that the price is on its way to achieve more decline in the upcoming period, noting that confirming breaking 1901.80 level will push the price to 1860.90 as a next negative station.
Therefore, the bearish trend will be expected on the intraday and short term basis, taking into consideration that breaching 1934.86 will stop the expected decline and leads the price to recover and regain the main bullish trend again.
The expected trading range for today is between 1880.00 support and 1935.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities
Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...