Gold Testing Resistance - Analysis - 29-09-2017

Gold is trading in a slight bearish direction after the resistance test of the descending channel shown in the image, accompanied by the emergence of negative signals from Stochastic, while SMA 50 continues to create negative pressure in front of the intraday basis.

Therefore, these factors encourage us to extend the downside wave correction over the short term and the short term towards the 1263.15 test as the next major station, noting that the break of 1299.20 represents the first key to attempt to return to the main ascending direction again.

The trading range for today is among the support at 1270.00 and resistance at 1295.00

The general trend for today is bearish