Gold price touches the support – Analysis - 02-07-2019
Economies.com
2019-07-02 04:48AM UTC
Gold price touched the bullish channel’s support line and settles near it, finding difficulty to surpass it until now, while the negative effect of the double top pattern still active, waiting to push the price to achieve more decline and touch 38.2% Fibonacci correction level at 1376.30, which represents our next main target.
Therefore, we will continue to suggest the bearish trend unless the price rallie to breach 1400.00 level and hold above it, reminding you that breaking 1376.30 will push the price to 1357.00 direct.
The expected trading range for today is between 1370.00 support and 1400.00 resistance.
The expected trend for today: Bearish
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