Gold price resumes the decline – Analysis - 18-05-2022
Economies.com
2022-05-18 04:20AM UTC
Gold price bounced bearishly after testing the bearish channel’s resistance that appears on the chart, to keep the bearish trend scenario valid and active on the intraday and short term basis, supported by the negative pressure formed by the EMA50, and we believe that the way is open to head towards our main waited target at 1780.25.
Holding below 1850.00 is important to continue the suggested bearish wave, noting that breaking 1780.25 will extend the bearish wave to reach 1765.00 as a next negative target.
The expected trading range for today is between 1785.00 support and 1825.00 resistance.
The expected trend for today: Bearish
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