Commodities

Gold price loses momentum – Analysis - 15-02-2019

2019-02-15 05:05:55 GMT (Economies.com)

Gold price keeps its stability below 1316.65 after the rise that it witnessed in the previous sessions, noticing that stochastic loses its positive momentum to enter the overbought areas now, which supports the chances of bouncing bearishly to resume the bearish trend on the intraday basis, reminding you that our next target reaches 1286.70.

 

We should note that breaching 1316.65 and holding above it will stop the expected decline and lead the price to achieve gains that start at 1345.00 and extend to 1365.05.

 

The expected trading range for today is between 1286.00 support and 1325.00 resistance.

 

The expected trend for today: Bearish

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