Gold price achieves bearish correction – Analysis - 06-12-2022

Gold price’s decline stopped at 23.6% Fibonacci correction level for the rise measured from 1616.65 to 1810.00, to start today with bullish bias and attempt to regain the main bullish trend, accompanied by witnessing clear positive signals through stochastic, which encourages us to suggest the bullish bias in the upcoming session and head to achieve gains that start at 1800.00 followed by 1810.00.

Breaching 1777.00 will ease the mission of achieving the suggested targets, noting that breaking 1764.40 will stop the expected rise and press on the price to suffer more losses.

The expected trading range for today is between 1760.00 support and 1795.00 resistance.

The expected trend for today: Bullish