Technical analysis of Gold for September 27, 2018
Gold price remains trapped inside the bearish channel and inside the trading range between $1,211-$1,190. Short-term trend remains neutral. Gold traders should be patient and wait for a breakout sign.
Red lines – trading range
Green lines – bearish channel
Short-term resistance is at $1,203 and next at $1,211. Support is at $1,190 and next at $1,186. Breaking above or below the second important levels will open the way for a move to $1,220-30 or $1,150-40 respectively. So far traders better stay on the sidelines as price continues to trade within the range.