Midday update for Gold 07-08-2020
Economies.com
2020-08-07 10:22AM UTC
Gold price shows sideways trading since morning and hovers around 2060.00, getting continuous positive support by the EMA50, while stochastic begins to lose its negative momentum gradually.
In general, we will continue to suggest the bullish trend for today unless breaking 2048.00 level and holding below it, which will press on the price to decline towards 2010.00 initially, while our main targets begin at 2083.00 and extend to 2150.00 after breaching the previous level.
The expected trading range for today is between 2030.00 support and 2095.00 resistance.
The expected trend for today: Bullish
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