Gold price needs strong positive momentum – Analysis - 12-08-2022
Economies.com
2022-08-12 04:10AM UTC
Gold price fluctuates within sideways track between 1779.25 support and 1802.80 resistance, while the EMA50 continues to provide the positive support to the price, to keep the chances to continue the bullish trend, which its targets begin by breaching the mentioned resistance to head towards 1831.95.
On the other hand, we should note that breaking 1779.25 will stop the expected decline and press on the price to turn to decline, to head towards testing 1755.70 areas before determining the next destination clearly.
The expected trading range for today is between 1775.00 support and 1810.00 resistance.
The expected trend for today: Bullish
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