Gold price tests the support – Analysis - 29-12-2020
Gold price ended yesterday with clear negativity to reach the bullish channel’s support line that appears on the chart, noticing that the EMA50 meets this support to add more strength to it, while stochastic begins to provide the positive signals now.
Therefore, we believe that the chances valid to trade positively in the upcoming sessions, and the targets begin at 1905.00 followed by 1928.60, noting that breaking 1870.00 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1865.00 support and 1905.00 resistance.
The expected trend for today: Bullish
Reprinted from Economies，the copyright all reserved by the original author.
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