Gold price resumes the decline – Analysis - 06-07-2022
Economies.com
2022-07-06 04:09AM UTC
Gold price found solid support at 1765.00 level, to show some slight bullish bias now, affected by stochastic positivity, and it might test the resistance line formed at 1780.25 before turning back to decline again.
Until now, the main bearish trend scenario still active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next target is located at 1750.00, while breaching 1780.25 will stop the current negative pressure and push the price to achieve some intraday gains.
The expected trading range for today is between 1750.00 support and 1785.00 resistance.
The expected trend for today: Bearish
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