Gold price resumes the decline – Analysis - 05-09-2018
Economies.com
2018-09-05 04:31AM UTC
Gold price provided negative trades yesterday to settle at the minor bearish channel’s support line that appears on the chart, falling under the negative pressure formed by the EMA50, which supports the chances of continuing the bearish trend in the upcoming sessions, waiting to test 1180.00 level as a next target, reminding you that breaking this level will push the price towards 1160.00 direct.
In general, we will continue to suggest the bearish trend for today unless the price rallied to breach 1208.40 level and hold above it.
Expected trading range for today is between 1170.00 support and 1210.00 resistance.
Expected trend for today: Bearish
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