Everyday analysis of Gold for September 13, 2017 888011000 110888 Overview Gold price is riding a bullish bias after 23.6%Fibonacci correction level has actually formed solid assistance at 1,321.49 which followed recent unfavorable relocations. The metal is most likely to go back to the bullish pattern, but we observe that stochastic loses its positive momentum clearly, while the EMA50 is generating unfavorable pressure. For that reason, we prefer staying aside for a while till we get a clearer confirmation signal for the next trend. We are waiting until among the key levels represented by 1,321.49 assistance and 13,44.00 resistance is breached to identify the next target. Please note that breaking the discussed support will press the price to extend its bearish correction towards 1,299.20 straight, while breaching 1,344.00 will stop the correctional bearish pressure and lead the price to gain back the main bullish pattern once again. The expected trading range for today is in between 1,315.00 support and 1,350.00 resistance. The material has actually been provided by InstaForex Business-www.instaforex.com

By | September 13, 2017

Share This:

Leave a Reply

Your email address will not be published. Required fields are marked *