Midday update for Gold 05-06-2023

Gold prices achieved initial break to 1945.20 level and closed the last four hours’ candlestick below it, which supports the continuation of the expected bearish trend for today efficiently, paving the way to head towards 1913.15 as a next main target, waiting for more decline in the upcoming sessions, noting that holding below 1945.20 represents initial condition to continue the bearish wave, as breaching it might push the price to start recovery attempts that target testing 1977.25 areas initially.

The expected trading range for today is between 1925.00 support and 1960.00 resistance.

The expected trend for today: Bearish