Gold price suffers clear losses – Analysis - 04-07-2022
Gold price traded with strong negativity in the previous sessions to reach few pips away from our waited target at 1780.25, affected by stochastic positivity to show some bullish bias, noticing that the indicator lost its positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.
Therefore, we believe that the chances valid to resume the bearish bias in the upcoming sessions, noting that breaking 1780.25 will push the price towards 1750.00 areas as a next main station, while breaching 1819.00 will push the price to achieve additional gains that reach 1850.00 before any new attempt to decline.
The expected trading range for today is between 1780.00 support and 1825.00 resistance.
The expected trend for today: Bearish
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