Gold moves near the support – Analysis - 11/03/2015
Gold price trading settled near the bearish channel’s support that appears in the image, showing sideways trading since yesterday, which makes stochastic loses its positive momentum ****ually, and that supports the chances of resuming the bearish overall trend, and its next target located at 1142.60.
In general, we keep preferring the bearish trend in the upcoming period, supported by the EMA50, taking into consideration that breaching 1181.00 level will stop the expected decline and pushes the price to intraday recovery attempts that its main targets reach at the bearish channel’s resistance at 1205.00.
Expected trading range for today is between: 1142.60 support and 1170.00 resistance.
Expected trend for today: Bearish


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