Gold price continues to decline – Analysis - 27-09-2022
Economies.com
2022-09-27 04:12AM UTC
Gold price found minor support at 1620.00, to show some slight bullish bias now, affected by stochastic positivity, while it continues to move inside the bearish channel that appears on the chart, to keep the main bearish trend active, waiting to visit 1610.00 that represents our next main target.
The EMA50 continues to press negatively on the price to support the expectations of continuing the bearish trend, taking into consideration that breaching 1660.00 will stop the expected decline and lead the price to start correctional bullish wave.
The expected trading range for today is between 1605.00 support and 1645.00 resistance.
The expected trend for today: Bearish
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