Midday update for Gold 16-08-2019
Economies.com
2019-08-16 10:33AM UTC
Gold price shows negative trades now on its way to test 23.6% Fibonacci correction level that forms initial support at 1503.24, as the price is affected by stochastic, while we still keep our main bullish trend expectations that conditions the price stability above 1483.60, noting that our targets begin by breaching 1535.00 to reinforce the chances of achieving the next main target at 1560.00.
The expected trading range for today is between 1505.00 support and 1540.00 resistance.
The expected trend for today: Bullish
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