Gold price under the negative pressure – Analysis - 08-07-2019
Economies.com
2019-07-08 04:43AM UTC
Gold price ended last week below 1400.30 level after the strong decline that it witnessed on Friday’s evening, which puts the price under the correctional bearish pressure again, on its way to visit 1376.30 level as a next negative target.
Therefore, the bearish bias will be suggested in the upcoming sessions supported by moving below the EMA50, noting that breaching 1400.30 and holding above it again will stop the suggested negative scenario and push the price to regain the main bullish track again.
The expected trading range for today is between 1376.00 support and 1410.00 resistance.
The expected trend for today: Bearish
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