Gold price keeps its negative stability – Analysis - 09-05-2022
Economies.com
2022-05-09 04:10AM UTC
Gold price rebounds bearishly after testing 1890.00 level in the previous sessions, to keep the bearish trend scenario active for the upcoming period, supported by the EMA50 that presses negatively on the price, besides the negative signal provided by stochastic, waiting to test 1850.00 as a first target.
Holding below 1890.00 is important to continue the expected decline, as breaching it will lead the price to start recovery attempts that target testing 1925.35 areas initially.
The expected trading range for today is between 1850.00 support and 1890.00 resistance.
The expected trend for today: Bearish
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