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Home Gold News Technical analysis: Gold prices wait to gain positive momentum

Technical analysis: Gold prices wait to gain positive momentum

by anna

July 19th, Economies.com’s analysts’ latest views today: gold prices stabilized around 1977.25, and encountered strong resistance there, waiting to gain positive momentum to push the price to break through this level and move towards the next target , the target was extended from 2000.00 to 2016.90.

Affected by the previously completed double bottom pattern, EMA50 continues to support the suggested rise. It is worth noting that a sustained sideways movement at 1977.25 will put the price under downward pressure during the session, targeting 1945.20 before another attempt to rise.

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Today’s trading range is expected between 1960.00 support and 1995.00 resistance.

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