Gold price loses momentum – Analysis - 08-12-2021
Economies.com
2021-12-08 05:16AM UTC
Gold price shows calm positive trades to test the EMA50, accompanied by stochastic loss to the positive momentum clearly and showing overbought signals, waiting to motivate the price to resume the expected bearish trend on the intraday basis, which targets testing 1770.00 level initially, reminding you that breaking this level will extend the bearish wave to reach 1734.00.
In general, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 1797.00 and hold above it.
The expected trading range for today is between 1765.00 support and 1800.00 resistance.
The expected trend for today: Bearish
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