Gold is trading downwards steeply to attack 1,331.00 level and is moving below it now. This opens the way to continue the bearish bias for the rest of the day, activating the bearish scenario on the intraday basis. 1,316.48 is most likely to be tested. Therefore, the bearish trend remains valid for the upcoming sessions unless the price manages to breach 1,335.40 level and holds above it again. The expected trading range for today is between 1,320.00 support and 1,350.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Gold is trading downwards steeply to attack 1,331.00 level and is moving below it now. This opens the way to continue the bearish bias for the rest of the day, activating the bearish scenario on the intraday basis. 1,316.48 is most likely to be tested. Therefore, the bearish trend remains valid for the upcoming sessions unless the price manages to breach 1,335.40 level and holds above it again. The expected trading range for today is between 1,320.00 support and 1,350.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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