Gold price achieves more gains – Analysis - 02-12-2022

Gold price closed yesterday above 1800.00 barrier, reinforcing the expectations of continuing the rise in the upcoming sessions, organized inside bullish channel that supports the chances of achieving our new positive targets that start at 1815.00 and extend to 1850.00.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that breaking 1786.50 will put the price under intraday negative pressure that targets testing the key support base 1765.00 before any new attempt to rise.

The expected trading range for today is between 1780.00 support and 1825.00 resistance.

The expected trend for today: Bullish