The gold price keeps fluctuating within a tight range below 1,254.56 levels. Stochastic begins to provide a negative overlapping signal on the four-hour time frame and is likely to help the price resume the bearish bias with the main target at 1,229.32 in the upcoming sessions. Therefore, the bearish trend scenario will remain active for today supported by the EMA50. Holding below 1,254.56 levels represents an important condition for the continuation of the expected decline. The expected trading range for today is between the 1,229.30 support and the 1,254.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The gold price keeps fluctuating within a tight range below 1,254.56 levels. Stochastic begins to provide a negative overlapping signal on the four-hour time frame and is likely to help the price resume the bearish bias with the main target at 1,229.32 in the upcoming sessions. Therefore, the bearish trend scenario will remain active for today supported by the EMA50. Holding below 1,254.56 levels represents an important condition for the continuation of the expected decline. The expected trading range for today is between the 1,229.30 support and the 1,254.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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