GOLD
New forecast
The price of gold rose in yesterday’s trading and the price closed above the 1962 level, and is based on this level to begin offering positive trades at the opening of the day, which supports the chances of achieving more expected gains in the immediate term, awaiting the test of the 1975 level, which constitutes an important resistance to intraday trading. Breaking it represents the key to restoring the main upward trend and heading towards achieving additional positive targets up to 1987 and 1993 levels .
Therefore, the upward trend will remain likely for the coming period, supported by moving average 50 , taking into account that stabilized under 1962 level will stop the expected rise and put pressure on the price to decline again. the main condition to be uptrend is stabilized above 1975 and then our targets will be activate .
The expect range trading for today it will be between resistance line 1975 and support line 1962 until stabilized .
Additionally , Today News will affect on the market .
support line : 1962 , 1947
resistance line : 1975 , 1987
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