Gold price tests the moving average – Analysis - 15-10-2019
Economies.com
2019-10-15 04:44AM UTC
Gold price tests the EMA50 that forms a minor resistance at 1497.00, and the price remains confined between the critical levels that are represented by 1485.00 support and 1512.00 resistance, therefore, our neutral attitude will remain valid until confirming breaching one of these levels then detect the next trend clearly.
Reminding you that breaking the mentioned support will put the price under strong negative pressure that its targets begin at 1447.00 and extend to 1413.10, while breaching the resistance will turn the price back to regain the main bullish trend that its initial target at 1555.00.
The expected trading range for today is between 1475.00 support and 1515.00 resistance.
The expected trend for today: Neutral
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