Commodities

Midday update for Gold 14-03-2019

2019-03-14 10:34:47 GMT (Economies.com)

Gold price keeps declining to attack 1302.60 level and moves below it now, which urges caution from the upcoming trading, as settling with a daily close below the mentioned level will stop the expected positive scenario for the upcoming period and press on the price to decline again.

 

Stochastic shows oversold signals now to support the chances of bouncing bullishly and resume the main bullish trend, and the price needs to step above 1302.60 level to confirm heading towards 1320.00 followed by 1346.73 levels that represent our next main targets.

 

The expected trading range for today is between 1290.00 support and 1330.00 resistance.

 

The expected trend for today: Bullish

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