Gold price tests the resistance – Analysis - 01-10-2020
Economies.com
2020-10-01 03:57AM UTC
Gold price fluctuates around the EMA50, keeping its stability below 1901.80 level until now, which keeps the bearish trend scenario valid and active for the upcoming period, waiting to visit 1877.00 followed by 1860.90 levels as next main stations.
Note that holding below 1901.80 is important to continue the expected decline, as breaching it will stop the expected decline and leads the price to provide new recovery attempts and opens the way to head towards 1934.86 areas initially.
The expected trading range for today is between 1870.00 support and 1910.00 resistance.
The expected trend for today: Bearish
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