Commodities

Gold price tests the resistance – Analysis - 15-01-2020

2020-01-15 05:47:31 GMT (Economies.com)

Gold price provides more positive trades to test the key resistance 1556.70, accompanied by stochastic loss to the positive momentum and entering the overbought areas, to form negative factor that we are waiting to support the chances of bouncing to resume the correctional bearish trend, which its next target located at 1519.00.

 

Therefore, we will keep our bearish overview for today, noting that breaching 1556.70 and holding above it will stop the expected decline and lead the price to regain the main bullish trend.

 

The expected trading range for today is between 1530.00 support and 1560.00 resistance.

 

The expected trend for today: Bearish

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