Gold price surpasses the target – Analysis - 28-02-2019

Economies.com
2019-02-28 05:06AM UTC

Gold price shows more negative pressure after achieving our main waited target at 1319.26, as it breaks the bullish channel’s support line that appears on the chart and settles below it, which puts the price under more expected negative pressure on the intraday and short term basis, noting that the way is open to visit 1312.80 followed by 1302.00 levels as next main stations.

 

Therefore, the bearish trend will remain dominant in the upcoming sessions unless the price managed to breach 1329.70 level and hold above it.

 

The expected trading range for today is between 1330.00 support and 1300.00 resistance.

 

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...