Gold breaks the support – Analysis - 19-03-2018
Economies.com
2018-03-19 05:00AM UTC
Gold price confirmed breaking 1316.48 level after ending last Friday’s trading below it, which pushes the price to decline in the upcoming sessions, as the price moves inside th bearish channel that appears on the chart, which we believe that it will push trading to visit 50% Fibonacci correction level initially at 1301.20.
Therefore, the bearish bias will be suggested for today, supported by the EMA50, noting that breaching 1316.48 followed by 1325.00 levels will stop the expected decline and lead the price to return to the main bullish trend again.
Expected trading range for today is between 1290.00 support and 1320.00 resistance.
Expected trend for today: Bearish
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