Gold price touches the target – Analysis - 17-04-2019

Gold price settles near 1275.30 level, and we notice completing forming the triple top paterrn that its lines appear in the image, which puts the price under an extra negative pressure that we expect to push the trading for more of the downside moves in the upcoming sessions, reminding you that the next targets extend to 1253.20 then 1231.13.

Therefore, we will be waiting for more of the bearish bias moves on the intraday and short term basis, being aware that breaching 1282.00 might push the price to achieve some gains and test 1302.60 levels again before any new attempt to decline.

The expected trading range for today is between 1260.00 support and 1285.00 resistance.

The expected trend for today: Bearish