Gold Retakes Test – Analysis

Gold price conducted a re-test to support the previously broken triangular flag and maintain its stability below it, to keep negative pressure in place for the upcoming period, supported by the negativity of Stochastic and the SMA 50, waiting to head towards 1800.00 as a first negative target.

On the other hand, we should note that breaching 1838.10 then 1848.60 will stop the negative scenario and push the price to resume the main bullish trend again.

The expected trading range for today is between 1810.00 support and 1850.00 resistance

The expected general trend for today: Bearish

.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.