Gold price tests the resistance – Analysis - 23-06-2022

Gold price provided positive trades to test the key resistance 1850.00, and bounced bearishly from there to keep the bearish trend scenario active for the upcoming period, waiting for more expected decline on the intraday basis, noticing that stochastic provides clear negative signals that we are waiting to motivate the price to head towards our main targets that start at 1810.00 followed by 1780.25.

Therefore, we will keep our bearish overview unless the price rallied to breach 1850.00 and hold above it.

The expected trading range for today is between 1800.00 support and 1850.00 resistance.

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The expected trend for today: Bearish