Gold within tight track – Analysis - 02/10/2015

Economies.com
2015-10-02 04:43AM UTC

The tight range dominates Gold price trading since yesterday, which continues to fluctuate around 1115.95 level keeping its stability below it, thus, no change on the bearish trend scenario that depends on holding below the bearish channel’s resistance located now at 1137.00, supported by the negative overlapping signal offered by stochastic.

 

Our first target is located at 1103.00, reminding you that breaking it will extend the bearish wave to target 1082.60 followed by 1059.00 levels on the near term basis.

 

Expected trading range for today is between 1085.00 support and 1130.00 resistance.

 

Expected trend for today: Bearish

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