Commodities

Midday update for Gold 08-11-2019

2019-11-08 10:38:07 GMT (Economies.com)

Gold price resumes its negative trading on its way to head towards our waited target at 1447.00, to keep the bearish trend active for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the expected decline requires holding below 1489.00, while surpassing the first target represents the key to rally towards 1413.00 direct.

 

The expected trading range for today is between 1447.00 support and 1480.00 resistance.

 

The expected trend for today: Bearish

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