Gold against the negative pressure – Technical Analysis – 03-11-2015

Gold price attempts to get rid of the negative pressure on the intraday basis, after succeeding to breach the descending channel’s resistance that carried the short term trading, along with the continuous negative pressure of the moving average 50, attempting to surpass it to get benefit of its positive support.

Therefore, we expect rising in the coming intraday trading, targeting 1147.40 resistance as a main target of exiting the mentioned channel.