Gold keeps declining – Analysis - 08-12-2017
Economies.com
2017-12-08 04:58AM UTC
Gold price shows more negative trades to reach the thresholds of the waited target at 1240.85, falling under continuous negative pressure formed by the EMA50, which supports the chances of continuing the bearish bias in the upcoming sessions, noting that breaking the mentioned level will put the price under more negative pressure that its next targets reach 1204.81.
In general, we will continue to suggest the bearish trend for today unless the price managed to rally upwards to breach 1263.15 level and hold above it.
Expected trading range for today is between 1235.00 support and 1263.00 resistance.
Expected trend for today: Bearish
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