Gold price resumes the rise – Analysis - 09-08-2022

2022-08-09 04:22:19 GMT (Economies.com)
 

Gold price managed to breach 1779.25 level and hold above it, which supports the continuation of the expected bullish trend for the upcoming period, paving the way to head towards 1802.80 that represents our next target, noting that breaching this level will extend the bullish wave to reach 1831.95 as a next main station.

 

Therefore, the bullish trend scenario will remain valid and active, supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1779.25 and the most important above 1755.70.

 

The expected trading range for today is between 1770.00 support and 1805.00 resistance.

 

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The expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
0.9802
0.0147
1.5193%
1.1165
0.0345
3.1856%
19.049
0.190
1.008%
80.050
0.756
0.953%
87.96
-0.53
0.60%
1664.495
19.135
1.163%
 
 
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