Gold within sideways range – Technical Analysis – 11-11-2015

Gold price showed more fluctuations yesterday within sideways range between 1087.00 support and 1094.00 resistance, while the price is approaching from this level accompanied by touching the moving average 50 that forms resistance now, hinting mixed trading in the coming period, with negative signals that start to appear on the relative strength indexes.

We will stay aside now waiting to exit the sideways range, suggesting a decline in the coming period on the intraday basis, as long as 1094.00 resistance remains intact, targeting 1087.00 support again.