Gold price achieves the correctional targets – Analysis - 22-02-2019

Gold price approached our second waited target at 1318.00 and fluctuates around 50% Fibonacci level now, accompanied by witnessing negative signals through stochastic that make us suggest the continuation of the bearish bias in the upcoming sessions, noting that surpassing the mentioned level will push the price to test 1310.00 that represents the most important support to the short term trading.

On the other hand, we should note that breaching 1330.00 followed by 1336.00 levels will stop the expected decline and lead the price to resume the main bullish trend, which its next target located at 1352.50.

The expected trading range for today is between 1310.00 support and 1336.00 resistance.

The expected trend for today: Bearish