Gold price tests the resistance – Analysis - 13-09-2018

Gold price traded with clear positivity on yesterday’s evening to test the key resistance 1208.40 and keeps its stability below it, which keeps the chances valid to resume the bearish trend, depending on the price stability below the mentioned level, reinforced by the negative signals provided now by stochastic, waiting to target 1180.00 level as a first main station.

We should note that breaching 1208.40 will motivate the price to achieve intraday gains that start at 1220.00 followed by 1238.30.

Expected trading range for today is between 1180.00 support and 1215.00 resistance.

Expected trend for today: Bearish