Gold price loses momentum – Analysis - 23-01-2019
Economies.com
2019-01-23 04:39AM UTC
Gold price tested the key resistance 1286.70 and keeps its stability below it, accompanied by witnessing overbought signals through stochastic, while the EMA50 meets the mentioned resistance to add more strength to it.
Therefore, we believe that the chances are valid to rebound bearishly and resume the expected bearish trend on the intraday basis, which targets 1262.50 level mainly, while its continuation conditions holding below 1286.70.
Expected trading range for today is between 1260.00 support and 1295.00 resistance.
Expected trend for today: Bearish
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