Gold price surpasses the first target – Analysis - 16-07-2021
Economies.com
2021-07-16 04:41AM UTC
Gold price managed to breach 1825.15 level and close the daily candlestick above it, to support the chances of extending the bullish wave on the intraday and short term basis, organized inside the bullish channel that appears on the chart, waiting to head towards 1860.00 as a next main target.
The EMA50 continues to support the suggested bullish wave, noting that breaking 1825.15 will put the price under intraday negative pressure that targets testing 1809.00 and might extend to 1797.00 areas before any new attempt to rise.
The expected trading range for today is between 1815.00 support and 1855.00 resistance.
The expected trend for today: Bullish
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