Midday update for Gold 21-02-2017
Economies.com
2017-02-21 11:14AM UTC
Gold price trades with clear negativity moving away from the previously broken minor bullish channel’s support, heading towards the main bullish channel’s support at 1218.50, reminding you that the current decline is temporary unless breaking the mentioned level, where breaking it will extend gold losses to reach 1211.31 directly.
Therefore, the bearish bias will remain preferred for the rest of the day until breaching 1236.00 level and holding with a daily close above it.
Expected trading range for today is between 1218.50 support and 1240.00 resistance.
Expected trend for today: Bearish temporarily
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