Gold price crawls downwards – Analysis - 27-07-2022
Economies.com
2022-07-27 03:49AM UTC
Gold price shows negative trades since yesterday to break 1720.00 level and settles below it, which hints heading to decline again, but we prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 1712.00 or breaching 1726.60 resistance.
Note that breaking the mentioned support will press on the price to achieve more decline and return to the main bearish track that its next target located at 1680.00, while breaching the resistance represents the key to resume the correctional bullish wave that targets 1755.70 as a next positive station.
The expected trading range for today is between 1695.00 support and 1735.00 resistance.
The expected trend for today: Neutral
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