Commodities

Gold price achieves the first target – Analysis - 15-08-2022

2022-08-15 04:10:20 GMT (Economies.com)

Gold price managed to achieve our first waited target at 1802.80 and finds solid resistance there, to show some bearish bias affected by stochastic negativity, and it might witness some temporary decline before turning back to rise again.

 

In general, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50 unless breaking 1779.25 and holding below it, noting that breaching 1802.80 will push the price to achieve additional gains that reach 1831.95.

 

The expected trading range for today is between 1780.00 support and 1815.00 resistance.

 

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The expected trend for today: Bullish

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