Illustration photo of Gold Price H4 Chart from economies.com
The intraday price for gold settled at a bullish channel’s support line as the 50-day exponential moving average (EMA50) protects trading by meeting the support inside the mentioned channel. Meanwhile, positive signals provided by stochastic continues.
The upcoming period notes a bullish trend by the price stability of the precious metal above $1905 while next target is $1970.
Today’s expected trading range is $1900 support and $1940 resistance.
FOLLOWME XAU/USD Overall Sentiment (As of 5:05 p.m., Jan 8, 2021)
Short - 50.68%
Long - 49.32%
Source: economies.com
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