Gold price is recovering – Analysis - 05-05-2022
Economies.com
2022-05-05 04:18AM UTC
Gold price rallied upwards strongly yesterday to attack 1890.00 level, starting today with additional positivity to breach this level and move away from it, which leads the price to turn to rise on the intraday basis and attempt to achieve gains that start by testing 1925.35 level, noting that breaching this level will extend the bullish wave to reach 1960.00.
Therefore, we expect to witness more bullish bias in the upcoming sessions unless breaking 1890.00 and holding below it again.
The expected trading range for today is between 1885.00 support and 1925.35 resistance.
The expected trend for today: Bullish
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