Gold analysis 14.02.2020

The gold price continues to fluctuate around 1575.90 level, and we are still waiting for the breach of this level to confirm the bullish wave extension on the intraday and short term, where our next target is at 1611.20.

The current stochastic negativity explains the reasons why it is difficult to achieve the required breach, waiting for a positive momentum sufficient to push the price to exceed the 1575.90 level and continue the expected rise, while noting that the continuation of the bullish wave requires stability above 1554.10.

The expected trading range for today is between 1560.00 support and 1595.00 resistance.

Expected trend for today: bullish.