Commodities

Gold price touches the first target – Analysis - 14-01-2020

2020-01-14 05:35:34 GMT (Economies.com)

Gold price opened today’s trading with clear negativity to succeed touching our first target at 1536.50, and we believe that the way is open to continue the decline in the upcoming sessions, noting that surpassing this level will push the price to 1519.00 direct.

 

Therefore, the bearish trend will remain suggested for today, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1556.70 to continue the expected decline.

 

The expected trading range for today is between 1519.00 support and 1550.00 resistance.

 

The expected trend for today: Bearish

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