Gold price approaches the target – Analysis - 03-05-2022
Economies.com
2022-05-03 03:56AM UTC
Gold price provided clear negative trades yesterday after confirming breaking 1925.35 level, to approach our waited target at 1850.00, oraganized inside the bearish channel that appears on the chart, which supports the chances of achieving more expected decline in the upcoming period, noting that breaking the mentioned level will extend the bearish wave to reach 1820.00 followed by 1780.00 as next main stations.
Therefore, we expect to witness more decline on the intraday basis unless the price rallied to breach 1890.00 and hold above it.
The expected trading range for today is between 1840.00 support and 1880.00 resistance.
The expected trend for today: Bearish
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