Gold price needs a confirmation signal – Analysis - 31-07-2020

Gold price tested 1937.20 level and found solid support there, to rebound bullishly and attempts to regain the bullish trend, noting that we need to get clearer signal for the next trend, which makes us prefer continuing neutral until the price confirms breaking the mentioned support or breaching 1981.20 resistance.

Note that breaking the mentioned support will press on the price to achieve more bearish correction that its next targets located at 1910.10 and extend to 1866.00, while breaching the resistance represents the key to resume the main bulish trend that targets 2000.00 followed by 2068.00 levels as next main stations.

The expected trading range for today is between 1910.00 support and 2020.00 resistance.

The expected trend for today: Neutral