Gold begins negatively – Analysis - 23-04-2018

Gold price ended last week above 1335.40 level, but it begins today with clear negativity to break this level and moves below it, which urges caution from the upcoming trading, as the continuation of the negative pressure and breaking 1331.00 will push the price to suffer more losses and visit 1316.48 level mainly, while stepping above 1335.40 will revive the positive scenario that its next target located at 1365.97.

Therefore, we prefer staying aside temporarily until the price confirms surpassing one of the above mentioned key levels.

Expected trading range for today is between 1320.00 support and 1350.00 resistance.

Expected trend for today: Neutral