Commodities

Gold price gathers the positive momentum – Analysis - 20-03-2019

2019-03-20 04:55:23 GMT (Economies.com)

Gold price shows some slight bearish bias to approach the key support 1302.60, this level is met by the EMA50 to add more strength to it, while stochastic gets rid of its negative momentum to reach the oversold areas.

 

Therefore, these factors encourage us to keep our bullish overview for the upcoming period, as the price is organized inside an intraday bullish channel that appears on the chart, reminding you that our main targets begin at 1320.00 and extend to 1346.73, while holding above 1302.60 represents key condition to continue the expected rise.

 

The expected trading range for today is between 1295.00 support and 1320.00 resistance.

 

The expected trend for today: Bullish

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