Gold under more pressure – Analysis - 31/10/2014
Economies.com
2014-10-31 04:49AM UTC
Gold price ended yesterday’s trading below 1200.00, which supports the continuation of the bearish trend in the upcoming period, and our next main target is testing 1187.00 level.
The EMA50 continues to push negatively on the intraday trading to support achieving more decline, noting that breaking 1187.00 will extend Gold price losses to reach 1155.00 areas, while the bearish trend will remain preferred unless the price managed to breach 1240.50 and hold above it.
Expected trading range for today is between: 1180.00 support and 1215.00 resistance.
Expected trend for today: Bearish
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