Gold bounces from the resistance – Analysis - 02/09/2014
Economies.com
2014-09-02 05:12AM UTC
Gold price bounces bearishly after testing 1290.00 level yesterday, while the EMA50 continues to push negatively on the intraday trading, to support the continuation of the bearish bias expected on the intraday basis, which its main targets begin by testing the key support levels between 1270.00 and 1266.00.
We remind you that breaking the above mentioned support levels will extend the bearish wave to reach 1236.00 level mainly, while breaching 1290.00 will motivate the price to regain the main bullish trend again.
Expected trading range for today is between: 1266.00 support and 1300.00 resistance.
Expected trend for today: Bearish
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