GOLD price resumes rise
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GOLD 4H NEW FORECAST
Gold price is trading around 2510.00 after the strong rise it witnessed in the previous sessions, and is affected by the negativity of the Stochastic indicator to show sideways trading, waiting to gather positive momentum that contributes to pushing the price to resume the upward wave whose next target is at2530 and 2540.00.
Therefore, we continue to favor the overall upward trend, taking into account that breaking the 2499 and then 2483.40 levels will stop the expected rise and pressure the price to make some downward correction in the short term.
Pivot Line : 2510
Resistance Line: 2530 , 2540 , 2552
Support Line :2499 , 2489 , 2483
The expected trading range for today is between the support 2499 and the resistance 2530
Price expectations for today: High
GOLD 4H NEW FORECAST
Gold price is trading around 2510.00 after the strong rise it witnessed in the previous sessions, and is affected by the negativity of the Stochastic indicator to show sideways trading, waiting to gather positive momentum that contributes to pushing the price to resume the upward wave whose next target is at2530 and 2540.00.
Therefore, we continue to favor the overall upward trend, taking into account that breaking the 2499 and then 2483.40 levels will stop the expected rise and pressure the price to make some downward correction in the short term.
Pivot Line : 2510
Resistance Line: 2530 , 2540 , 2552
Support Line :2499 , 2489 , 2483
The expected trading range for today is between the support 2499 and the resistance 2530
Price expectations for today: High
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