Gold price breaks the support – Analysis - 06-11-2019
Economies.com
2019-11-06 05:21AM UTC
Gold price ended yesterday’s trading below 1489.00 level, to confirm the activation of the bearish trend scenario on the intraday basis, on its way to achieve negative targets that begin at 1447.00, making the bearish bias suggested for today, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for negative trades in the upcoming sessions, noting that breaching 1489.00 and holding above it will stop the expected decline and lead the price to recover again.
The expected trading range for today is between 1465.00 support and 1500.00 resistance.
The expected trend for today: Bearish
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