Midday update for Gold 06-04-2020
Economies.com
2020-04-06 10:49AM UTC
Gold price settles above 1600.00$ barrier, and the EMA50 continues to provide the positive support to the price, resuems its positive trades to reach the thresholds of our first waited target at 1644.20, waiting for more rise to breach this level and rally towards 1703.25 that represents our next main station.
In general, the bullish trend scenario will remain active for the rest of the day unless breaking 1607.70 and holding below it, noting that the EMA50 continues to support the suggested bullish wave.
The expected trading range for today is between 1600.00 support and 1650.00 resistance.
The expected trend for today: Bullish
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