Midday update for Gold 09-06-2023
Economies.com
2023-06-09 09:22AM UTC
Gold prices continues to fluctuate around the correctional bearish channel’s resistance, waiting to activate the negative effect of stochastic and resume the negative trades to test 1945.20 initially, reminding you that breaking it will push the price to 1913.15 direct.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period unless breaching 1977.25 and holding above it.
The expected trading range for today is between 1945.00 support and 1977.25 resistance.
The expected trend for today: Bearish
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