Gold price tests the support again – Analysis - 14-01-2019

Economies.com
2019-01-14 04:59AM UTC

Gold price returned to test 1286.70 level and keeps its stability above it, which keeps the bullish trend scenario valid until now, supported by the EMA50 that protects the mentioned level, besides stochastic that provides positive signals on the four hours’ time frame, waiting to target 1316.65 level as a next station.

 

We should note that breaking 1286.70 will turn the intraday track to decline to achieve negative targets that reach 1262.50 mainly.

 

Expected trading range for today is between 1280.00 support and 1316.00 resistance.

 

Expected trend for today: Bullish

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