Gold at the first target – Analysis - 30/11/2015
Economies.com
2015-11-30 05:52AM UTC
Gold price traded with clear negativity after breaking the bearish pennant support that appears in the image, to reach now to our first main waited target at 1050.00, reinforcing our expectations for our bearish trend move on the intraday and short term basis, waiting for surpassing the mentioned level to head towards the psychological barrier at 1000.00 $ per ounce.
In general, the bearish trend scenario will remain valid if the price settled within the main bearish channel that appears in the image, pointing that the EMA50 keeps providing support for the suggested bearish wave.
Expected trading range for today is between 1030.00 support and 1070.00 resistance.
Expected trend for today: Bearish
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