GOLD loses momentum
Hello everyone, The price of gold came within a few points of our expected target in 2009 and is bouncing downwards from there to provide signs of heading to visit the support of the bullish intraday channel shown in the chart, which is now located in 1975.
Therefore, the bearish bias will be likely for today, supported by the loss of the Stochastic indicator of positive momentum, keeping in mind that breaking the target level will extend the bearish wave to reach 1963 while breaching 2009 will stop the negative scenario and lead the price to resume the main upward trend again.
The expected general trend for today: is temporarily bearish
Therefore, the bearish bias will be likely for today, supported by the loss of the Stochastic indicator of positive momentum, keeping in mind that breaking the target level will extend the bearish wave to reach 1963 while breaching 2009 will stop the negative scenario and lead the price to resume the main upward trend again.
The expected general trend for today: is temporarily bearish
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