Gold price resumes the decline – Analysis - 09-12-2019
Economies.com
2019-12-09 05:52AM UTC
Gold price provided negative trading in last Friday’s eveing to surpass the EMA50, approaching from our initial waited target at 1447.00, reinforcing the expectations of the bearish correctional trend domination contninutaion, which organizes within the bearish channel that appears in the image, pointing that breaking the mentioned level will push the price to 1413.10 as a next main station.
Therefore, the bearish bias will remain preferred in the upcoming period, conditioned by holding below 1489.00.
The expected trading range for today is between 1445.00 support and 1470.00 resistance.
The expected trend for today: Bearish
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