Gold - Technical Analysis: Tuesday, 07/03/2017 08:44 GMT

Gold price continues to decline to approach from the main waited target at 1217.00, and the price falls under continuous negative pressure by the exponential moving average 100, to support the continuation of the decline in the coming period, as the effect of the rising wedge pattern still valid until now.

Note that the continuation of the bearish trend depends on the price stability below 1239.00, while breaking 1217.00 will cause more losses on the short term basis, to head towards 1180.00 on the near term basis.