Midday update for Gold 05-05-2021
Economies.com
2021-05-05 09:12AM UTC
Gold price settles below 1785.00 level, to keep the bearish trend scenario suggested on the intraday basis, waiting to visit 1765.00 level mainly, reminding you that we are waiting for bullish rebound after touching the mentioned level.
On the other hand, we should note that breaking the targeted level will extend the bearish wave to target 1750.00 as a next negative station, while breaching 1785.00 represents the key to resume the bullish trend and head towards 1838.00 as a next positive target.
The expected trading range for today is between 1760.00 support and 1795.00 resistance.
The expected trend for today: Bearish temporarily
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