Gold price tests the channel’s support – Analysis - 10-08-2020
Economies.com
2020-08-10 03:36AM UTC
Gold price touched the bullish channel’s support line that appears on the chart and settles there, accompanied by starting to witness positive signals through stochastic, while the EMA50 keeps providing the positive support to the price.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which its main targets begin at 2087.00, noting that breaking 2024.00 will stop the suggested rise and press on the price to start bearish correction that its main targets begin at 1968.00.
The expected trading range for today is between 2000.00 support and 2070.00 resistance.
The expected trend for today: Bullish
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