Gold price’s trading settled below 1300.00 level as we mentioned in our last technical update, to delay resuming the overall bullish trend, and the trading is confined between the sideways range lines which are represented by 1277.60 support and 1320.00 resistance, and the price needs to surpass one of these levels to detect its next targets clearly.
Stochastic provides positive signals that supports achieving some bullish bias in the upcoming period, but we prefer monitoring gold price behavior according to the above mentioned levels to get clearer confirmation signals, pointing that breaking 1277.60 support will push the price to visit 1250.00 level mainly, while breaching above the resistance will open the way for targeting 1350.00 then 1400.00 levels initially.
Expected trading range for today is between: 1270.00 support and 1320.00 resistance.
Expected trend for today: Sideways
For more detail Please Contact
092 749966,
093 749966
lekchansour@gmail
No comments:
Post a Comment