GOLD - OUTLOOK
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GOLD 4H NEW FORECAST
Gold price trading stabilizes around the 2210 level after the rise it witnessed in recent sessions.
We notice that the price lost its positive momentum, causing the upward wave to stop temporarily.
Waiting to gather positive momentum that will help push the price to resume the rise and head towards our first awaited target at 2222.91.
The 50 moving average continues to support the price from below, enhancing the chances of continuing the expected upward trend, taking into account that breaking 2177 will stop the expected rise and force the price to make a new downward correction targeting the 2160 areas as the next negative station.
GOLD 4H NEW FORECAST
Gold price trading stabilizes around the 2210 level after the rise it witnessed in recent sessions.
We notice that the price lost its positive momentum, causing the upward wave to stop temporarily.
Waiting to gather positive momentum that will help push the price to resume the rise and head towards our first awaited target at 2222.91.
The 50 moving average continues to support the price from below, enhancing the chances of continuing the expected upward trend, taking into account that breaking 2177 will stop the expected rise and force the price to make a new downward correction targeting the 2160 areas as the next negative station.
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