Daily analysis of Gold for December 09, 2016

Overview

The gold price is testing the 1,172.68 level, which represents the first resistance barrier that keeps the bearish trend scenario valid for today, while the EMA50 keeps its negative pressure on the intraday trading. Therefore, we still expect the bearish bias in the upcoming sessions. Our main awaited target is located at 1,124.88, while achieving it conditions holding below 1,172.68 and 1,186.00 levels. The expected trading range for today is between the 1,140.00 support and the 1,186.00 resistance. The material has been provided by InstaForex Company - www.instaforex.com

From www.instaforex.com http://ift.tt/2hbT5Sb