Gold price attempts positively – Analysis - 07-11-2019
Economies.com
2019-11-07 05:49AM UTC
Gold price ended yesterday above 1489.00 level, moving near it now, but we notice that stochastic loses its positive momentum to reach the overbought areas, while the EMA50 forms negative pressure against the price.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, which targets heading towards 1447.00 areas mainly, noting that failing to break 1489.00 will stop the suggested negative scenario and push the price to rise again.
The expected trading range for today is between 1470.00 support and 1500.00 resistance.
The expected trend for today: Bearish
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