Gold price tests the moving average – Analysis - 06-09-2018
Economies.com
2018-09-06 04:22AM UTC
Gold price hovers around the EMA50, and still within the minor bearish channel, noticing that stochastic reaches the overbought areas, waiting to motivate the price to rebound bearishly and resume the recently suggested decline, waiting to test 1180.00 initially.
Therefore, the bearish trend will remain valid as long as the price is below 1208.40, reminding you that breaking 1180.00 will push the price towards 1160.00 direct.
Expected trading range for today is between 1180.00 support and 1210.00 resistance.
Expected trend for today: Bearish
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