Gold price gets a negative signal – Analysis - 01-10-2018

Gold price begins today’s trading with bearish bias to move below 1190.00 level again, as the EMA50 formed good resistance barrier against the recent attempts to rise, while stochastic provides negative overlapping signal now.

Therefore, we believe that the chances are valid to resume the bearish trend in the upcoming sessions, waiting to break 1180.00 level to confirm extending the bearish wave towards 1160.00, noting that breaching 1195.00 will push the price to test 1208.40 level before any new attempt to decline.

Expected trading range for today is between 1170.00 support and 1200.00 resistance.

Expected trend for today: Bearish