Gold price hits the target – Analysis - 26-05-2023

Economies.com
2023-05-26 04:12AM UTC

Gold prices settles around 1945.20 level, noticing that the price closed the last daily candlestick below it, reinforcing the chances of achieving more bearish correction on the intraday and short term basis, waiting to visit 1913.15 as a next main target.

 

The bearish channel organizes the correctional bearish wave, which gets continuous support by the EMA50, noting that the consolidation of the current support areas against the negative pressure will push the price to rebound bullishly and achieve intraday gains that start by testing 1977.25.

 

The expected trading range for today is between 1925.00 support and 1960.00 resistance.

 

The expected trend for today: Bearish

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