Gold price hits the target – Analysis - 29-07-2022

Economies.com
2022-07-29 04:03AM UTC

Gold price succeeded to achieve our waited target at 1755.70, and begins today with additional bullish bias to breach this level and confirm the continuation of the correctional bullish trend, targeting 1770.00 followed by 1779.25 levels as next stations.

 

Therefore, we expect to witness more bullish bias within the intraday bullish channel that appears on the chart, taking into consideration that failing to breach 1770.00 will stop the bullish wave and press on the price to return to the main bearish track again.

 

The expected trading range for today is between 1745.00 support and 1780.00 resistance.

 

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The expected trend for today: Bullish

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