Gold keeps its negative stability – Analysis - 25-09-2017

Gold price begins to rebound bearishly after retesting 1299.20 level, supported by the negative signal provided by stochastic, besides the negative pressure coming by the EMA50, to reinforce the chances of continuing the correctional bearish trend that its next target located at 1281.17.

Therefore, the bearish bias will be dominant in the upcoming sessions unless breaching 1299.20 level and holding above it, as breaching this level will push the price to start recovery attempts that target 1321.49 areas initially.

Expected trading range for today is between 1281.17 support and 1300.00 resistance.

Expected trend for today: Bearish