Gold price activates the negative scenario – Analysis - 18-01-2021
Economies.com
2021-01-18 04:57AM UTC
Gold price confirmed breaking 1830.00 level after ending last Friday below it, and completed forming bearish pennant that supports the chances of achieving more expected decline in the upcoming period, targeting visiting 1800.00 as a next station.
Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50, noting that breaching 1838.10 followed by 1852.30 levels will stop the expected decline and leads the price to start recovery attempts on the intraday and short term basis.
The expected trading range for today is between 1800.00 support and 1845.00 resistance.
The expected trend for today: Bearish
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