Midday update for Gold 20-09-2017
Economies.com
2017-09-20 10:23AM UTC
Gold price is testing the correctional bearish channel's resistance now, noting that the EMA50 meets this resistance to add more strength to it, while stochastic shows clear overbought signals now.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless breaching 1321.49 level and holding above it, noting that our next main target is represented by testing 38.2% Fibonacci level at 1299.20.
Expected trading range for today is between 1295.00 support and 1321.49 resistance.
Expected trend for today: Bearish
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