Kuala Lumpur 6:00 p.m. (GMT+8) - In the Asian market intraday, gold price maintaining the upward trend, the price of gold is now reported at around $1964 dollars per ounce.
The financial website, Economies.com wrote an article on Thursday to analyse the gold price movement today as follows:
gold prices are showing more bullish trends and are approaching the long-awaited target price of $1967.90 per ounce.
By carefully observing the technical chart, we found that the gold price has completed the construction of a double bottom pattern. According to this pattern, the bullish gold price target can be aimed at $2008.80 per ounce. This means that if it breaks through $1967.90 per ounce, the price of gold is expected to rise further in the next few trading days.
Illustration photo of Gold H4 Chart from Economies.com
From the 4-hour chart, the EMA 50 indicator supports the current gold price level. It should be pointed out that once the price of gold drops below $1,934.86 per ounce, this will stop decline and gold price will turn into bearish outlook.
Economies.com predicts that today's gold price trading will be located between the support level of $1940.00 per ounce and the resistance level of $1990.00 per ounce.
Overall, the website predict that today's expected trend in gold prices is bullish.
Translated from the original article: https://www.24k99.com/2011/437...
تم التحرير 09 Nov 2020, 18:19
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