Gold price still stuck – Analysis - 04-08-2020

Gold price returns to fluctuate near the key resistance 1981.20, and we still waiting to get clearer signal for the next trend through breaching this resistance or breaking 1937.20 support to detect the next destination clearly, which makes us continue with our neutrality until now.

We remind you that breaching the resistance will lead the price to continue the main bullish trend and achieve new record highs that start at 2000.00 and extend to 2068.00, while breaking the support will press on the price to achieve more bearish correction that targets 1910.00 and might extend to 1888.00 levels before any new attempt to rise.

The expected trading range for today is between 1935.00 support and 2020.00 resistance.

The expected trend for today: Neutral