Gold price approaches the first target – Analysis - 12-02-2019

2019-02-12 05:15:58 GMT (

Gold price continues to decline gradually, organized inside the intraday bearish channel that appears on the chart, approaching our first target that rises now to 1299.00, waiting to break this level to head towards 1286.70 as a next main station.


Moving below the EMA50 supports the expected decline, while breaching 1316.65 represents the key to turn the intraday track to rise to head towards achieve gains that begin at 1340.00 and extend to 1365.05.


The expected trading range for today is between 1286.00 support and 1320.00 resistance.


The expected trend for today: Bearish

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