Gold price retests – Analysis - 24-10-2018

Economies.com
2018-10-24 04:14AM UTC

Gold price retested the previously breached resistance of the bullish pennant and keeps its stability above it, while stochastic gets rid of its negative momentum to head towards the oversold areas, waiting to get enough positive momentum to push the price to breach 1238.30 level and confirm extending the bullish wave on the short term basis.

 

Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1220.00, supported by the EMA50, reminding you that the extended target reaches 1262.50.

 

Expected trading range for today is between 1220.00 support and 1245.00 resistance.

 

Expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...