Midday update for Gold 19-07-2021
Economies.com
2021-07-19 09:50AM UTC
Gold price faces negative pressure to break the bullish channel’s support line and heads towards testing 1797.00 level, to activate the bearish trend scenario in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1770.00 as a next negative target.
Therefore, the bearish bias will be suggested for the rest of the day unless the price rallied to breach 1825.15 and hold above it.
The expected trading range for today is between 1790.00 support and 1830.00 resistance.
The expected trend for today: Bearish for the rest of the day
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