Gold has showed sideways and tight trading since morning settling below the EMA50. That keeps the bearish trend scenario valid as it is without any change for today, waiting to visit 1,231.13 level mainly. Take into account that stochastic current positivity might cause more sideways fluctuation before resuming the expected bearish bias. Therefore, we are waiting for negative trading for the rest of the day unless the price manages to breach 1,263.17 level and hold with a daily close above it. The expected trading range for today is between 1,231.00 support and 1,255.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
Gold has showed sideways and tight trading since morning settling below the EMA50. That keeps the bearish trend scenario valid as it is without any change for today, waiting to visit 1,231.13 level mainly. Take into account that stochastic current positivity might cause more sideways fluctuation before resuming the expected bearish bias. Therefore, we are waiting for negative trading for the rest of the day unless the price manages to breach 1,263.17 level and hold with a daily close above it. The expected trading range for today is between 1,231.00 support and 1,255.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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