Midday update for Gold 09-07-2020

Economies.com
2020-07-09 10:11AM UTC

Gold price resumes its positive trading after the temporary decline that it witnessed this morning, approaching our first target at 1825.00, and the price gets continuous positive support by the EMA50, waiting for more rise to visit 1855.00 level that represents our next main station.

 

In general, the bullish trend scenario will remain valid and active in the upcoming sessions unless breaking 1766.00 level and holding below it.

 

The expected trading range for today is between 1795.00 support and 1830.00 resistance.

 

The expected trend for today: Bullish

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