Gold price builds positive formation – Analysis - 20-06-2022

Gold price leadned on 1838.10 level and attempts to trade positively now, noticing that stochastic provides positive signals that we are waiting to motivate the price to rise in the upcoming sessions, and by taking a deeper look at the chart, we find that the price recorded higher low in the recent trades, which supports the chances of achieving more gains in the upcoming period, and the price needs to breach 1850.00 to reinforce the expectations to rise.

Therefore, the bullish trend will be suggested for the upcoming period, and the targets begin at 1890.00 and extend to 1925.35 after surpassing the previous level, noting that breaking 1830.00 will stop the expected rise and press on the price to turn to decline.

The expected trading range for today is between 1830.00 support and 1870.00 resistance.

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The expected trend for today: Bullish