Gold price breaches the resistance – Analysis - 06-05-2021
Economies.com
2021-05-06 00:45AM UTC
Gold price had enough by touching 1770.00 level, to rebound bullishly and breach the intraday bearish channel’s resistance, which stop the temporary negative scenario and lead the price to resume the main bullish trend again, paving the way to head towards 1800.00 followed by 1838.00 levels as next main stations.
The EMA50 supports the expected rise, noting that breaking 1784.00 will put the price under the negative pressure again to head towards testing 1765.00 mainly.
The expected trading range for today is between 1775.00 support and 1810.00 resistance.
The expected trend for today: Bullish
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