Gold price gets a negative signal – Analysis - 18-09-2018

Gold price shows some slight bearish bias to approach the key support 1190.00, which represents the neckline of the double top pattern that appears on the chart, noting that stochastic provides negative overlapping signal now, which forms good motive that we are waiting to assist to push the price to break the mentioned support followed by opening the way to achieve our negative targets that begin at 1180.00 and extend to 1160.00.

Therefore, the bearish trend will remain suggested in the upcoming sessions unless breaching 1208.40 level and holding with a daily close above it.

Expected trading range for today is between 1175.00 support and 1208.00 resistance.

Expected trend for today: Bearish