Mon. Sep 23rd, 2019

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Gold Price Under The Negative Pressure

1 min read

Gold price settled at the bullish channel’s support line that appears on the chart, and 50% Fibonacci correction level formed good support against the price, while stochastic shows positive signals now.

Therefore, we believe that the chances are valid to rebound bullishly and resume the bullish trend in the upcoming sessions, which its next main target located at 1560.00, noting that breaking 1522.00 followed by 1517.25 levels will stop the expected rise and press on the price to turn to decline on the intraday and short term basis.

The expected trading range for today is between 1510.00 support and 1550.00 resistance.

The expected trend for today: Bullish

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