Gold price continues to rise, organized inside new bullish channel that appears on the chart, noticing that stochastic gets rid of its negative momentum gradually, waiting to motivate the price to resume the bullish wave that its next target located at 1900.00.
Therefore, our bullish overview will remain valid and active unless breaking 1820.50 and holding below it.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Bullish
Therefore, our bullish overview will remain valid and active unless breaking 1820.50 and holding below it.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Bullish
Trade active
Gold price provides negative trades to test the minor bullish channel’s support line, noticing that stochastic continues to gain the positive momentum, waiting to resume the bullish wave that targets 1900.00 as a next main station, taking into consideration that breaking 1838.00 will press on the price to test the key support 1820.50 before any new attempt to rise.Note
Gold price gets a positive signalGold price continued to decline to reach the bullish channel’s support line, noticing that the price begins to rebound bullishly now, motivated by stochastic positivity that appears clearly now, to keep our overall bullish overview, which its next main target located at 1900.00.
The EMA50 continues to support the price from below, reinforcing the expectations of continuing the bullish trend, noting that breaking 1826.00 will stop the expected rise and press on the price to start correctional bearish wave.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.