Gold price loses momentum – Analysis - 22-11-2023
Economies.com
2023-11-22 04:07AM UTC
Gold price approached few pips away from our waited target at 2009.30, and rebounds bearishly from there to hint heading to visit the intraday bullish channel’s support line that appears on the chart, located at 1976.75 now.
Therefore, the bearish bias will be suggested for today, supported by stochastic loss to the positive momentum, noting that breaking the targeted level will extend the bearish wave to reach 1962.35, while breaching 2009.30 will stop the negative scenario and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1985.00 support and 2015.00 resistance.
The expected trend for today: Bearish temporarily
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