Gold price suffers sharp losses – Analysis - 16-08-2018
Economies.com
2018-08-16 04:36AM UTC
Gold price opened today’s trading with more strong decline to reach the thresholds of the main waited target at 1156.40, noticing that the price touched the bearish channel’s support line that appears on the chart, which might push the price to provide some temporary bullish bias before resuming the decline again.
The overall bearish trend still suggested, taking into consideration that breaching 1182.00 might push the price to continue rising and test the bearish channel’s resistance at 1210.00 before any new attempt to decline.
Expected trading range for today is between 1155.00 support and 1180.00 resistance.
Expected trend for today: Bearish
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