Midday update for Gold 09-05-2022
Economies.com
2022-05-09 09:28AM UTC
Gold price resumes its negative trading to move below the bearish channel’s resistance that appears on the chart, waiting for more decline in the upcoming sessions supported by the EMA50, and the way is open to achieve our main waited target at 1850.00, noting that the continuation of the bearish wave requires holding below 1890.00.
The expected trading range for today is between 1850.00 support and 1890.00 resistance.
The expected trend for today: Bearish
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