Gold confirms the break – Analysis - 21-02-2018

Gold price confirmed breaking 1335.40 level after closing the daily candlestick below it, to provide clear negative trades on its way to test 1316.48 level mainly, to keep the bearish bias suggested in the upcoming sessions.

It is important to monitor the price behavior when reaching the targeted level, as holding against the current negative pressure is required to push the price to resume the main bullish trend, while breaking it represents the key to extend Gold price losses to reach 1301.20 as a next station, noting that breaching 1335.40 will stop the current negative pressure and push the price to regain its main bullish track again.

Expected trading range for today is between 1315.00 support and 1335.00 resistance.

Expected trend for today: Bearish