Gold price approaches the target – Analysis - 06-03-2019

Economies.com
2019-03-06 04:45AM UTC

Gold price settles around 1285.00 level after the decline that it witnessed yesterday, noticing that stochastic loses the positive momentum clearly to reach the overbought areas’ thresholds, to provide negative motive that we are waiting to push the price to resume the bearish wave, which targets 1275.30 level mainly.

 

Therefore, the bearish bias will remain suggested for today conditioned by the price stability below 1302.60, reminding you that surpassing the mentioned target will push the price to visit the next correctional level at 1253.20.

 

The expected trading range for today is between 1270.00 support and 1300.00 resistance.

 

The expected trend for today: Bearish

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