Gold price continues to decline – Analysis - 09-09-2019
Economies.com
2019-09-09 04:42AM UTC
Gold price shows more bearish bias to test 1508.30 level, and the EMA50 forms continuous negative pressure against the price, to suggest the continuation of the decline in the upcoming sessions to test 1493.80 as a next main station.
Therefore, we are waiting for more negative trades today, noting that breaching 1531.75 will stop the current negative pressure and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1493.00 support and 1524.00 resistance.
The expected trend for today: Bearish
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