Gold price gets a negative signal – Analysis - 10-07-2019

Gold price made new test to 1400.30 level and kept its stability below it, as the EMA50 meets this resistance to add more strength to it, noticing that stochastic provides negative overlapping signal now, which forms negative motive that we are waiting to push the price to resume the correctional bearish bias, which targets 1376.30 level as a next station.

Therefore, the bearish trend will remain suggested for the upcoming period unless breaching 1400.30 level and holding above it.

The expected trading range for today is between 1376.00 support and 1405.00 resistance.

The expected trend for today: Bearish