Midday update for Gold 27/07/2015
Economies.com
2015-07-27 10:37AM UTC
Gold price keeps fluctuating near 1100.00 level, while stochastic shows negative overlapping signal now within the overbought levels, which represents strong negative signal that we wait to push the price to resume the expected bearish bias for today, which depends on the stability below 1142.60 level, supported by the upcoming negative pressure from the EMA50.
Therefore, the bearish trend will remain valid and active in the upcoming period, reminding you that the next target located at 1055.00.
Expected trading range for today is between 1060.00 support and 1120.00 resistance.
Expected trend for today: Bearish
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