Gold price confirms the break – Analysis - 15-06-2023

Gold prices ended yesterday with clear negativity to break 1945.20 and settles below it again, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, and the way is open to head towards our next negative target at 1913.15.

The bearish channel continues to organize the expected bearish wave, which gets continuous support by the EMA50, noting that breaching 1945.20 followed by 1958.40 levels will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

The expected trend for today: Bearish