Gold price loses momentum – Analysis - 06-12-2021

2021-12-06 05:05:42 GMT (

Gold price traded with clear positivity on last Friday, to breach 1770.00 and head towards potential test to 1797.00, but we notice that the EMA50 forms negative pressure against the price, to stop the bullish bias, accompanied by stochastic loss to the positive momentum and showing overbought signals.


Therefore, these factors encourage us to suggest the bearish bias for today, and the targets begin at 1770.00 and extend to 1734.00 after breaking the previous level, taking into consideration that the continuation of the rise and breaching 1797.00 will stop the expected decline and lead the price to achieve additional gains on the intraday basis.


The expected trading range for today is between 1760.00 support and 1797.00 resistance.


The 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.