Gold price hits the first negative target – Analysis - 14-06-2022

Gold price continued to decline to achieve our first suggested negative target at 1810.00 and shows some bullish bias now, affected by stochastic positivity, on its way for potential test to the first key resistance 1838.10, noting that we suggest the continuation of the bearish trend domination in the upcoming period, as the next target is located at 1780.25.

Therefore, the bearish trend scenario will remain expected on the intraday basis unless breaching 1850.00 and holding with a daily close above it.

The expected trading range for today is between 1800.00 support and 1840.00 resistance.

Open Live Trading Account

The expected trend for today: Bearish