Gold price resumes the decline – Analysis - 07-02-2019

2019-02-07 05:19:05 GMT (Economies.com)
Gold price resumes the decline – Analysis - 07-02-2019
 

Gold price shows more bearish bias to test 1300.00 barrier now, reinforcing the expectations of continuing the decline in the upcoming sessions, which targets 1294.00 followed by 1286.70 levels, supported by the completion of a minor double top pattern that its signs appear on the chart.

 

Therefore, we are waiting for more decline today 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.%
1.1079
-0.0019
0.1712%
1.2132
-0.0022
0.1839%
16.871
-0.233
1.362%
56.195
1.395
2.546%
59.76
1.12
1.91%
1496.160
-16.105
1.065%
 
 
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