Gold price attempts to recover – Analysis - 16-02-2024
Economies.com
2024-02-16 04:45AM UTC
Gold price shows positive trades to approach testing the key resistance 2016.90, and the EMA50 meets this level to add more strength to it, while stochastic loses its positive momentum clearly to show overbought signals now.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, and the targets begin by testing 1977.46, reminding you that breaching 2016.90 will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1985.00 support and 2015.00 resistance.
The expected trend for today: Bearish
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