Gold price resumes the bearish track – Analysis - 06-05-2022
Economies.com
2022-05-06 04:20AM UTC
Gold price couldn’t manage to hold for long time above 1890.00 level, to trade with strong negativity and resume the bearish track again, as it returns to the bearish channel that we expect to push the price to achieve negative targets that start at 1850.00 and extend to 1814.50.
Therefore, the bearish bias will be suggested for today supported by the negative pressure formed by the EMA50 unless the price rallied to breach 1890.00 and hold with a daily close above it.
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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