Gold negotiates the first target – Analysis - 21-09-2017
Economies.com
2017-09-21 03:44AM UTC
Gold price settled around 1299.20 level, which represents 38.2% Fibonacci correction level for the last rise from 1204.81 to 1357.53, and the price still organized inside the minor bearish channel that supports the chances of continuing the decline in the upcoming sessions, to head towards potential visit to the next correctional level at 1281.17.
Therefore, the bearish trend will be expected on the intraday basis supported by the EMA50, noting that breaching 1321.49 will stop the expected decline and lead the price to regain its main bullish track again.
Expected trading range for today is between 1281.17 support and 1315.00 resistance.
Expected trend for today: Bearish
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