GOLD needs strong positive momentum
Hello everyone,
GOLD 4H NEW FORECAST
The price of gold is showing slight positive trading in an attempt to move away from the 2016 level and is receiving continuous support from the 50 moving average, waiting to gather positive momentum that will contribute to pushing the price to achieve further rise, which mainly targets testing the 2065 areas.
Therefore, the bullish trend scenario will remain valid and effective for the coming period, keeping in mind that breaking 2016 will stop the proposed rise and put pressure on the price to make a new bearish correction.
The expected trading range for today is between Support 2010.00 and Resistance 2045.00
The general trend expected for today: Bullish
GOLD 4H NEW FORECAST
The price of gold is showing slight positive trading in an attempt to move away from the 2016 level and is receiving continuous support from the 50 moving average, waiting to gather positive momentum that will contribute to pushing the price to achieve further rise, which mainly targets testing the 2065 areas.
Therefore, the bullish trend scenario will remain valid and effective for the coming period, keeping in mind that breaking 2016 will stop the proposed rise and put pressure on the price to make a new bearish correction.
The expected trading range for today is between Support 2010.00 and Resistance 2045.00
The general trend expected for today: Bullish
Related publications
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.