Gold price tests the resistance – Analysis - 11-03-2019

Economies.com
2019-03-11 04:47AM UTC

Gold price begins to rebound bearishly after reaching 1302.60 resistance, as the EMA50 formed good obstacle against the price’s positive attempts, accompanied by witnessing negative signals through stochastic, which supports the chances of resuming the expected bearish trend on the intraday and short term basis, which its next target located at 1275.30.

 

Therefore, the bearish trend scenario will remain active for the upcoming period conditioned by the price stability below 1302.60.

 

The expected trading range for today is between 1270.00 support and 1310.00 resistance.

 

The expected trend for today: Bearish

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