Midday update for Gold 16-05-2022

Economies.com
2022-05-16 09:42AM UTC

Gold price provided clear negative trades and approached 1780.25 level, to support the expectations of continuing the decline in the upcoming sessions, noting that breaking the mentioned level will push the price to 1765.00 as a next negative target, while the expected decline will remain valid unless the price rallied to breach 1850.00 and hold above it.

 

The expected trading range for today is between 1780.00 support and 1825.00 resistance.

 

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The expected trend for today: Bearish

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