Midday update for Gold 16-08-2023
Economies.com
2023-08-16 09:07AM UTC
Gold price shows sideways trades since morning, keeping its stability inside the bearish channel that appears on the chart, waiting to resume the bearish wave that targets 1892.00 followed by 1873.50 levels as next main stations.
In general, the bearish trend scenario will remain active for today unless the price rallied to breach 1913.15 and hold above it.
The expected trading range for today is between 1885.00 support and 1915.00 resistance.
The expected trend for today: Bearish
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