Gold price resumes its negative trading clearly in its way towards our main waited target at 1316.48, pointing that stochastic keeps providing negative signals that might motivate the price to break the mentioned level, then extend the bearish wave to reach 1301.20 as a next station. Therefore, we keep preferring the bearish trend for today unless breaching 1335.40 level and holding above it. The expected trading range for today is between the 1316.00 support and the 1335.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Overview
Gold price resumes its negative trading clearly in its way towards our main waited target at 1316.48, pointing that stochastic keeps providing negative signals that might motivate the price to break the mentioned level, then extend the bearish wave to reach 1301.20 as a next station. Therefore, we keep preferring the bearish trend for today unless breaching 1335.40 level and holding above it. The expected trading range for today is between the 1316.00 support and the 1335.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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