Commodities

Midday update for Gold 14-01-2020

2020-01-14 11:03:09 GMT (Economies.com)

Gold price shows some bullish bias after testing 1536.50 level this morning, affected by stochastic positivity, while the EMA50 forms negative pressure that makes us suggest resuming the negative trades to break the mentioned level followed by heading towards 1519.00 as a next target.

 

In general, the bearish trend scenario will remain expected for today unless the price rallied to breach 1556.70 and hold above it.

 

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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