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Gold price gets negative close – Analysis - 24-02-2023
Gold price ended yesterday below 1828.70 level, to fall under expected negative pressure in the upcoming sessions, resuming the correctional bearish track, opening the way to head towards 1788.20 as a next negative target.
Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50, and breaking 1818.50 will ease the mission of achieving the expected decline.
Note that breaching 1828.70 and holding above it will stop the expected bearish trend and lead the price to start new recovery attempts that start by visiting 1878.80 areas.
The expected trading range for today is between 1805.00 support and 1840.00 resistance.
The expected trend for today: Bearish
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