Gold price begins bearish correction – Analysis - 03-02-2023
4 months ago

Gold price ended yesterday below the bullish channel’s support line that appears on the chart, to start bearish correction for the rise measured from 1616.65 to 1959.75, on its way to visit 1878.80 as a first correctional target.


Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1928.60 will stop the current negative pressure and lead the price to regain the main bullish trend again.


The expected trading range for today is between 1890.00 support and 1930.00 resistance.


The expected trend for today: Bearish

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