Gold price closes below the resistance – Analysis - 27-12-2018

2018-12-27 05:28:41 GMT (Economies.com)
 

Gold price closed yesterday’s trading below 1270.00 level, which reactivates the expected bearish trend scenario on the intraday basis, which depends on the trading nature inside the price channels, waiting to break 1262.50 level to confirm rallying towards 1238.30 that represents the next main target of the suggested bearish wave.

 

We should note that confirming breaching 1270.00 will stop the suggested negative scenario and lead the price to head towards 1286.70 direct.

 

Expected trading range for today is between 1255.00 support and 1280.00 resistance.

 

Expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1039
0.0224
2.0680%
1.2822
-0.0126
0.9724%
Tadawul
7628.34
-82.78
1.07%
16.614
-1.879
10.161%
45.205
-8.128
15.240%
50.52
-1.66
3.18%
1578.330
-65.315
3.974%
 
 
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