Gold price confirms the breach – Analysis - 19-10-2023
Economies.com
2023-10-19 03:23AM UTC
Gold price breached 1945.20 level strongly and closed the daily candlestick above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, opening the way to head towards 1977.25 as a next main target.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, noting that the EMA50 provides continuous positive support to the price, while breaking 1945.20 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 1935.00 support and 1970.00 resistance.
The expected trend for today: Bullish
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