Midday update for Gold 03-04-2023
Economies.com
2023-04-03 10:34AM UTC
Gold price rebounds bullishly after breaking 1962.50 level and closing the last four hours’ candlestick below it, to attempt to breach this level, affected by stochastic positivity, while the EMA50 meets this level to form resistance that keeps the chances valid to resume the expected correctional bearish trend for today, which its next target located at 1933.20.
Therefore, we will continue to suggest the bearish trend on the intraday basis, noting that confirming breaching 1962.50 will lead the price to regain the main bullish trend and head towards 2000.00 initially.
The expected trading range for today is between 1935.00 support and 1970.00 resistance.
The expected trend for today: Bearish
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