Midday update for Gold 27/11/2015

Economies.com
2015-11-27 10:52AM UTC

Gold price continues to offer negative trading to confirm breaking the bearish pennant pattern’s support, thus, the bearish trend will remain valid efficiently for the upcoming period, supported by the negative pressure offered by the EMA50, waiting to test 1050.00 level initially.

 

We remind you that breaking the targeted level will extend the bearish wave to reach 1000.00 level, which will remain valid and active unless breaching 1100.00 level and holding above it.

 

Expected trading range for today is between 1040.00 support and 1090.00 resistance.

 

Expected trend for today: Bearish

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