Gold begins with negativity – Analysis - 22/09/2014

Gold price opened today’s trading with clear negative bias approaching our main waited target at 1200.00, reinforcing the intraday bearish overview which gets support from the EMA50.

The continuation of the suggested bearish bias depends on holding below 1236.00 and 1244.00 levels, noting that it’s important to monitor the price behavior when reaching the previously recorded bottom at 1187.00, which represents an important key to detect the next price destination on the short term basis.

Expected trading range for today is between: 1187.00 support and 1236.00 resistance.

Expected trend for today: Bearish