Gold price faces negative pressure – Analysis - 17-10-2018
Economies.com
2018-10-17 04:44AM UTC
Gold price shows negative trades on its way for a potential test to the key support 1208.40, making the bearish bias suggested for today after the price found difficulty to surpass 1230.00 barrier in the previous sessions, noting that holding above the targeted support will push the price to resume the correctional bullish track again.
We should note that breaching 1230.00 will stop the current negative pressure and lead the price to achieve positive targets that begin at 1238.31 and extend to 1262.51 after breaching the previous level.
Expected trading range for today is between 1208.00 support and 1230.00 resistance.
Expected trend for today: Bearish
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