Midday update for Gold 10-12-2019
Economies.com
2019-12-10 10:34AM UTC
Gold price tests the EMA50 and still below it, noticing that stochastic begins to lose the positive momentum gradually, waiting to motivate the price to resume the bearish bias to break the minor bullish channel’s support line followed by achieving our negative targets that begin at 1447.00 and extend to 1413.10 after breaking the previous level.
Therefore, we will keep our bearish overview for today, noting that holding below 1467.00 represents initial condition to continue the expected decline.
The expected trading range for today is between 1445.00 support and 1470.00 resistance.
The expected trend for today: Bearish
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