The price of GOLDresumes its decline
Gold price ended yesterday’s trading below 1977.25, and starts the day with a noticeable decline to move away from this level, which supports the continuation of the bearish corrective trend, and the way is open to achieving our next target at 1945.20.
Therefore, we will continue to suggest the bearish trend for the coming period, supported by the negative pressure formed by the EMA 50, noting that breaking the target level will extend the bearish wave to reach 1913.15, while stability below 1977.25 represents an important condition for the continuation of the expected decline.
The expected trading range for today is between the
*support 1945.00
*resistance 1977.00
The expected general tendency for today: is bearish
Therefore, we will continue to suggest the bearish trend for the coming period, supported by the negative pressure formed by the EMA 50, noting that breaking the target level will extend the bearish wave to reach 1913.15, while stability below 1977.25 represents an important condition for the continuation of the expected decline.
The expected trading range for today is between the
*support 1945.00
*resistance 1977.00
The expected general tendency for today: is bearish
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