Gold price tests the resistance – Analysis - 12-04-2022

Gold price continues to fluctuate around 1960.00 level without managing to confirm breaching it, to keep the price confined between the trend keys represented by the mentioned resistance and 1925.35 support, thus, we will continue with our neutrality until now.

Moving inside the bullish channels that appear on the chart gives preference to the domination of the bullish trend in the upcoming sessions, but we need to breach 1960.00 to confirm rallying towards achieving new gains that reach 2000.00, while breaking 1925.35 support represents negative factor that will press on the price to achieve additional bearish correction that its next targe treaches 1890.00.

The expected trading range for today is between 1925.00 support and 1970.00 resistance.

The expected trend for today: Neutral