Gold price faces solid support – Analysis - 06-10-2021

Gold price continues to fluctuate around the breached resistance of the bearish channel that appears on the chart, waiting to get negative motive that assists to push the price to break the support line formed at 1755.00 and confirm rallying towards our main expected target at 1735.00.

In general, we will continue to suggest the bearish trend for the upcoming period as long as 1770.00 level remains intact, as breaching this level will lead the price to turn to rise and achieve gains that start by visiting 1800.00 areas.

The expected trading range for today is between 1735.00 support and 1770.00 resistance.

The expected trend for today: Bearish