Midday update for Gold 07-11-2023
Economies.com
2023-11-07 12:00PM UTC
Gold price broke the neckline of the double top pattern clearly, to activate the negative effect of this pattern, reaching our first waited target at 1962.35, noting that we suggest breaking this level to open the way to head towards 1933.30 as a next main target
Therefore, the bearish trend scenario will remain valid and active for today unless breaching 1988.00 and holding above it.
The expected trading range for today is between 1956.00 support and 1985.00 resistance.
The expected trend for today: Bearish
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