Gold price attempts negatively – Analysis - 30-06-2023

Gold prices traded with clear negativity yesterday and attempted to surpass 1900.00 barrier, but it returns to fluctuate near the key resistance 1913.15, noticing that the EMA50 continues to press negatively on the price, while stochastic loses its positive momentum clearly.

Therefore, we believe that the chances valid to resume the expected bearish trend on the intraday and short term basis, organized inside the bearish channel that appears on the chart, noting that we are waiting to visit 1873.50 as a next target, while holding below 1913.15 represents key condition to continue the expected decline.

The expected trading range for today is between 1890.00 support and 1915.00 resistance.

The expected trend for today: Bearish