Gold price loses momentum – Analysis - 08-02-2019

2019-02-08 05:07:03 GMT (Economies.com)
Gold price loses momentum – Analysis - 08-02-2019
 

Gold price fluctuates around the EMA50, noticing that stochastic shows overbought signals now and provides negative overlapping signal that we expect to assist to push the price to resume the bearish trend, which targets 1294.00 followed by 1286.70 levels mainly.

 

Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless the price rallied to breach 1316.65 level and hold above it.

 

The expected trading range for today is between 1286.00 support and 1316.00 resistance.

 

The expected trend for today: Bearish

 
 
  Symbol Last Change Chg.%
1.1336
0.0037
0.3279%
1.3032
0.0125
0.9720%
16.010
0.231
1.464%
57.110
1.337
2.396%
67.08
0.63
0.95%
1338.210
16.875
1.277%
 
 
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