Gold price around the moving average – Forecast today - 06-05-2024
Economies.com
2024-05-06 04:09AM UTC
Gold Price Analysis
Expected Scenarios
- Gold price shows some slight bullish bias to test the EMA50 that forms good resistance against the price, to protect the correctional bearish scenario and support the chances of resuming the decline in the upcoming sessions, waiting to visit 2260.60$ as a next main target.
- Therefore, we will continue to suggest the bearish trend on the intraday basis conditioned by the price stability below 2325.90$, as breaching this level represents the key to escape the correctional bearish track and head to return to the main bullish track again.
Trading Range for Today
- Support: 2285.00$
- Resistance: 2325.00$
Trend forecast: Bearish
Read more: Will Gold price reach 3000$ areas?
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Update: Gold price surpasses the first target
2024-05-17 15:23PM UTC
Gold price succeeded to achieve our first target at 2400.00$ and breached it to confirm the ...
Commodities
Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...