Commodities

Gold price closes below the resistance – Analysis - 27-12-2018

2018-12-27 05:28:41 GMT (Economies.com)

Gold price closed yesterday’s trading below 1270.00 level, which reactivates the expected bearish trend scenario on the intraday basis, which depends on the trading nature inside the price channels, waiting to break 1262.50 level to confirm rallying towards 1238.30 that represents the next main target of the suggested bearish wave.

 

We should note that confirming breaching 1270.00 will stop the suggested negative scenario and lead the price to head towards 1286.70 direct.

 

Expected trading range for today is between 1255.00 support and 1280.00 resistance.

 

Expected trend for today: Bearish

More Analysis

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.