Gold price surpasses the resistance – Analysis - 14-08-2020

Gold price confirmed breaching 1934.68 level after closing the daily candlestick above it, and it managed to reach our first waited positive target at 1967.90, waiting to get positive momentum that assists to push the price to achieve more gains in the upcoming period, as breaching the last level represents the key to rally towards 2008.80 as a next positive target.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1934.68 will put the price under negative pressure that its targets begin by testing 1901.80 and might extend to 1860.90 before any new attempt to rise.

The expected trading range for today is between 1920.00 support and 1990.00 resistance.

The expected trend for today: Bullish