Gold price hits the first target – Analysis - 17-02-2021
Economies.com
2021-02-17 05:01AM UTC
Gold price settles below 1800.00 barrier, which puts the price under more expected negative pressure for the upcoming period, reinforcing the expectations of continuing the decline on the intraday and short term basis, reminding you that our next target is located at 1765.00.
The EMA50 keeps supporting the expected bearish wave, noting that breaking 1785.00 will ease the mission of achieving the extended targets, while holding below 1820.00 represents the first condition to continue the suggested decline.
The expected trading range for today is between 1765.00 support and 1810.00 resistance.
The expected trend for today: Bearish
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