Gold price faces negative pressure – Analysis - 31-08-2018
Economies.com
2018-08-31 03:34AM UTC
Gold price closed yesterday’s trading below the intraday bullish channel’s support line that appears on the chart, which puts the price under potential negative pressure in the upcoming period, making the bearish trend suggested for today, targeting visiting 1180.00 level as a first main station.
Holding below 1208.40 level will keep the negative overview valid, as breaching it will reactivate the bullish trend scenario again, which has positive targets that start at 1225.00 and extend to 1238.31.
Expected trading range for today is between 1180.00 support and 1210.00 resistance.
Expected trend for today: Bearish
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