Gold price declines calmly – Analysis - 09-12-2021

Economies.com
2021-12-09 05:12AM UTC

Gold price’s rise stopped at the previously broken support line that appears on the chart, to start bouncing downwards calmly, waiting for more decline to visit 1770.00 as a first negative target.

 

Note that breaking the mentioned level will extend the bearish wave to reach 1734.00 as a next main station, while the expected decline will remain valid unless breaching 1797.00 and holding above it.

 

The expected trading range for today is between 1765.00 support and 1800.00 resistance.

 

The expected trend for today: Bearish

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