Midday update for Gold 08-12-2017

Gold price resumes its negative trades calmly on its way to test 1240.85 level, to keep the bearish trend suggested for today, supported by the negative pressure provided by the EMA50, reminding you that it is important to monitor the price behavior when reaching the targeted level, as breaking it will extend Gold price losses to go towards 1204.81 areas on the short term basis.

Holding below 1263.15 will keep the expected decline valid, as breaching it will open the way to start recovery attempts and regain the main bullish trend again.

Expected trading range for today is between 1235.00 support and 1263.00 resistance.

Expected trend for today: Bearish