Gold pushes negatively – Analysis - 27/11/2014
Economies.com
2014-11-27 06:17AM UTC
Gold price begins today’s trading with a bearish bias to break 1193.40 level, opening the way towards a potential retest to 1178.85 level before it returns to rise again, where the bullish trend scenario remains valid and active if the price settle above the mentioned level, waiting for targeting 1225.00 then 1255.00 levels mainly.
Stochastic heads to the oversold levels gradually to support the chances of bouncing higher to resume the bullish trend, taking into consideration that breaking 1178.85 level will push the price to visit levels that reach 1160.85 and extend to 1131.80.
Expected trading range for today is between: 1178.85 support and 1225.00 resistance.
Expected trend for today: Bullish
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