Gold price tests the support – Analysis - 19-08-2019

Gold price continues to fluctuate near 1503.24 level and keeps its stability above it until now, as the EMA50 meets this level to add more strength to it, to keep the bullish trend scenario valid and active for the upcoming period, waiting to breach 1535.00 level to ease the mission of heading towards 1560.00 as a next main station.

We should note that breaking 1503.24 followed by 1483.60 levels will stop the expected rise and press on the price to start bearish correction that its main targets reach 1452.00 before any new attempt to rise.

The expected trading range for today is between 1500.00 support and 1530.00 resistance.

The expected trend for today: Bullish