Gold price confirms the break – Analysis - 28-09-2018

Gold price confirmed breaking 1190.00 level after closing the daily candlestick below it, reinforcing the expectations of continuing the bearish trend efficiently on the intraday and short term basis, and the way is open to achieve our waited negative targets, which start at 1180.00 and extend to 1160.00, supported by the negative pressure formed by the EMA50.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless breaching 1190.00 and the most important 1208.40 levels.

Expected trading range for today is between 1165.00 support and 1200.00 resistance.

Expected trend for today: Bearish