Gold price activates the negative scenario – Analysis - 04-03-2021
Economies.com
2021-03-04 05:14AM UTC
Gold price confirmed breaking 1720.00 level after closing the daily candlestick below it, and begins to record new bottoms, which supports the chances of continuing the bearish trend in the upcoming sessions, organized inside the bearish channel that appears on the chart, noting that the next target is located at 1692.00.
The EMA50 supports the suggeste negative scenario, taking into consideration that breaching 1733.00 will stop the expected decline and leads the price to achieve intraday bullish correction before resuming the negative trade again.
The expected trading range for today is between 1692.00 support and 1725.00 resistance.
The expected trend for today: Bearish
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