Gold price tests the resistance – Analysis - 16-06-2022

2022-06-16 04:19:06 GMT (Economies.com)
 

Gold price continued to rise to test the first key resistance 1838.10, keeping its stability below it until now, to keep the bearish trend scenario active for the upcoming period, supported by the EMA50 that meets the mentioned resistance to add more strength to it.

 

Our expected targets start at 1810.00 and extend to 1780.25, taking into consideration that breaching 1838.10 followed by 1850.00 levels will stop the expected decline and lead the price to turn to rise.

 

The expected trading range for today is between 1805.00 support and 1850.00 resistance.

 

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The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.0427
-0.0154
1.4550%
1.2096
-0.0176
1.4311%
19.698
-1.669
7.811%
108.022
0.605
0.563%
111.50
2.47
2.27%
1799.775
-29.770
1.627%
 
 
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