Gold under the negative pressure – Analysis - 06/03/2015
Economies.com
2015-03-06 05:58AM UTC
Gold price still below 1205.00, as it closed another daily candlestick below it, which keeps the bearish bias valid and suggested for the upcoming period, waiting to test 1181.00 level as a next main station.
The EMA50 supports the suggested decline, and we should note that breaching 1205.00 level will stop the negative scenario and might push the price to test the key resistance 1224.60, which breaching it represents a positive factor that will push the price to achieve intraday gains reaching to 1244.00 then 1268.00.
Expected trading range for today is between: 1181.00 support and 1220.00 resistance.
Expected trend for today: Bearish
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