Midday update for Gold 05-05-2017
Economies.com
2017-05-05 11:03AM UTC
Gold price shows some slight bearish bias since morning affected by stochastic positivity, which loses its bullish momentum gradually to reach the thresholds of the overbought areas, while the EMA50 keeps forming the negative pressure against the intraday trading.
Therefore, we will keep our bearish overview for the upcoming sessions unless the price managed to breach 1243.80 followed by 1250.00 levels and hold above them, reminding you that our next main target is located at 1211.31.
Expected trading range for today is between 1211.30 support and 1240.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
How did gold become a major component in Nvidia's signature GPUs?
2024-04-25 20:32PM UTC
Nvidia has witnessed one of the most stunning success stories in recent years.. But before we get ...
Commodities
Oil prices lost ground despite large US inventory drawdown
2024-04-24 20:42PM UTC
Oil prices fell on Wednesday despite earlier official data that showed a steep decline in US crude ...
Commodities
US crude stocks fall more than expected
2024-04-24 16:29PM UTC
The Energy Information Administration reported a drop of 6.4 million barrels in US crude stocks ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price keeps its stability above ...
Commodities
Crude oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price trades positively to approach ...
Commodities
Silver price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Silver Price Analysis Expected Scenario Silver price shows positive trades to hint the ...