Gold price technical analysis

gold price technical analysis indicate that gold price tested a new level at 1124.88 U.S.D/ Ounce of gold  yesterday, and maintained stability above it, bouncing up resuming the positive attempts on the intraday basis, which keeps the scenario of uptrend for gold price effective during the opening session till the mid session of trading.

By the beginning of mid session gold price technical analysis shows that we will face a down trend at the level of 1092.46 U.S.D/Ounce of gold.

we believe that the road is open towards positive goals that start at 1154.76 U.S.D/Ounce of gold  and extends to 1172.68 U.S.D/ Ounce of gold, with a reminder that the break of 1094.88 U.S.D/Ounce will stop the proposed positive scenario and pressuring the pair to move towards pre-recorded at 1047.61 U.S.D/ounce of gold bottom main station next.

Expected trading range for today is between the support and resistance 1094.88 to  1154.75 U.S.D/ Ounce

 

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