Gold price hovers around the support – Analysis - 20-02-2024
Economies.com
2024-02-20 04:07AM UTC
Gold price fluctuates around 2016.90 level and still above it until now, noticing that the EMA50 provides positive support to the price, while stochastic attempts to get rid of its negative momentum now.
Therefore, we believe that the chances still valid to continue the expected bullish trend on the intraday basis, which targets 2065.70 mainly, reminding you that breaking 2016.90 will stop the expected rise and push the price to resume the correctional bearish track again.
The expected trading range for today is between 2005.00 support and 2035.00 resistance.
The expected trend for today: Bullish
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