Midday update for Gold 27/08/2015
Economies.com
2015-08-27 11:15AM UTC
Gold price fluctuates near 50 % Fibonacci correction level as appears in the image noticing that stochastic loses its positive momentum gradually, besides the continuous negative pressure that comes from the EMA50 on the intraday trading.
Therefore, we keep preferring the bearish trend for today unless breaching 1161.00 level, reminding you that our next target located at 1100.00.
Expected trading range for today is between 1100.00 support and 1140.00 resistance.
Expected trend for today: Bearish
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