Gold price if affected by the negative pattern – Analysis - 10-01-2022

2022-01-10 04:52:42 GMT (Economies.com)
 

Gold price tested 1797.00 level and keeps its stability below it, noticing that this level represents the broken neckline of the double top pattern that appears on the chart, accompanied by stochastic reach to the overbought areas, which supports the chances of declining to resume the negative trades again.

 

Therefore, the bearish trend scenario will remain suggested in the upcoming sessions conditioned by the price stability below 1797.00, noting that our next target is located at 1770.00.

 

The expected trading range for today is between 1770.00 support and 1805.00 resistance.

 

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.1342
-0.0062
0.5454%
1.3610
-0.0048
0.3511%
Tadawul
12260.13
73.83
0.61%
24.112
1.101
4.782%
85.141
1.272
1.517%
88.44
0.93
1.06%
1839.175
18.715
1.028%
 
 
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