Gold price suffers more losses – Analysis - 04-03-2019
Economies.com
2019-03-04 05:30AM UTC
Gold price traded with strong negativity on last Friday to settle below 1300.00$ barrier now, opening the way for bearish correction for the bullish wave measured from 1159.70 to 1346.70, as it surpassed 23.6% Fibonacci correction level to head towards the next correction level at 1275.30.
Therefore, we suggest the continuation of the bearish bias in the upcoming sessions, taking into consideration that breaching 1302.60 and holding above it will stop the current negative pressure and push the price to start recovery attempts and regain the main bullish trend again.
The expected trading range for today is between 1275.00 support and 1310.00 resistance.
The expected trend for today: Bearish
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