Gold pushes on the support – Analysis - 13-12-2017

Economies.com
2017-12-13 04:59AM UTC

Gold price settles at the key support 1240.85 after attempting to break it yesterday, noticing that stochastic loses its positive momentum clearly to approach the overbought areas, while the EMA50 keeps pushing negatively on the price.

 

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, noting that breaking the mentioned support will open the way to target 1204.81 areas on the short term basis, while breaching 1263.15 represents the first positive key to start recovery attempts and regain the main bullish trend again.

 

Expected trading range for today is between 1230.00 support and 1255.00 resistance.

 

Expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Silver News

Commodities

Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Gold News

Commodities

Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...

Commodities Technical Analysis

Silver Analysis

Commodities

Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Brent oil Analysis

Commodities

Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...
Oil Analysis

Commodities

Crude oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price shows slight negative trades ...