Gold price approaches the target – Analysis - 18-08-2022
Economies.com
2022-08-18 04:13AM UTC
Gold price continues to decline to approach our waited target at 1755.25, falling under continuous negative pressure coming by the EMA50, to support the chances of surpassing the mentioned level and open the way to suffer more losses on the intraday basis, noting that breaking this level will push the price to 1726.60 as a next negative station.
Until now, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 1779.25 and hold above it.
The expected trading range for today is between 1750.00 support and 1780.00 resistance.
The expected trend for today: Bearish
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