Gold price leans on the channel’s support line – Analysis - 08-08-2022

2022-08-08 03:50:34 GMT (Economies.com)
 

Gold price’s decline stopped at the bullish channel’s support line that appears on the chart, and the EMA50 meets this support to add more strength to it, while stochastic shows clear positive signals now.

 

Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, which its first main target located at 1802.80, reminding you that the continuation of the bullish wave depends on the price stability above 1755.70.

 

The expected trading range for today is between 1760.00 support and 1795.00 resistance.

 

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The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
0.9802
0.0147
1.5193%
1.1165
0.0345
3.1856%
19.049
0.190
1.008%
80.050
0.756
0.953%
87.96
-0.53
0.60%
1664.495
19.135
1.163%
 
 
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