Commodities

Gold price is stable – Analysis - 31-12-2018

2018-12-31 04:57:27 GMT (Economies.com)

Gold price settles around 1280.00 level, and we still waiting for more rise as long as the price is above 1270.00, as the EMA50 continues to support the price from below, while stochastic begins to lose its negative momentum.

 

Our next target is located at 1286.70, and breaching it will push the price towards 1316.65 areas, while breaking 1262.50 will stop the expected rise and push the price to turn to decline.

 

Expected trading range for today is between 1265.00 support and 1300.00 resistance.

 

Expected trend for today: Bullish

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