Gold price crawls towards the target – Analysis - 15-04-2019

Gold price continues to decline gradually to move away from the key resistance 1302.60, approaching gradually from our main waited target at 1275.30, to keep the bearish trend dominant in the upcoming sessions, reminding you that there is a triple top pattern under construction now, which supports the chances of extending the correctional bearish wave to target 1253.20 followed by 1231.13 areas on the short term basis.

Moving below the EMA50 supports the continuation of the expected decline, which will remain valid unless breaching 1302.60 followed by 1308.80 levels and holding above them.

The expected trading range for today is between 1275.00 support and 1300.00 resistance.

The expected trend for today: Bearish