Gold price confirms the break – Analysis - 11-05-2022
Economies.com
2022-05-11 03:57AM UTC
Gold price ended yesterday below 1850.00 level, to add more confirmation to the continuation of the bearish wave domination, waiting to achieve our negative targets at 1820.00 and extend to 1780.25.
The EMA50 continues to support the suggested bearish wave, and the bearish channel reinforces the chances of continuing the decline in the upcoming sessions, while the price needs to hold below 1850.00 to guarantee achieving the suggested targets.
The expected trading range for today is between 1810.00 support and 1855.00 resistance.
The expected trend for today: Bearish
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