Commodities

Gold price gets a negative close – Analysis - 03-12-2021

2021-12-03 02:34:58 GMT (Economies.com)

Gold price closed yesterday below 1770.00 level, to add more confirmation to the continuation of the bearish trend on the intraday and short term basis, which targets 1734.00 as a next main station.

 

The EMA50 continues to press negatively on the price to support the expectations to decline, noting that failing to consolidate below 1770.00 will push the price to achieve intraday gains and test 1797.00 areas again before any new attempt to decline.

 

The expected trading range for today is between 1750.00 support and 1785.00 resistance.

 

The expected trend for today: Bearish

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