Gold price approaches the minor support – Analysis - 08-08-2023
Economies.com
2023-08-08 04:27AM UTC
Gold price shows more bearish bias to approach the minor support 1929.00, waiting to break this level to ease the mission of achieving our main expected target at 1913.15.
Therefore, we will continue to suggest the bearish trend for the upcoming period, affected by the previously completed double top pattern, besides the negative pressure formed by the EMA50, taking into consideration that breaching 1945.20 will cancel the mentioned negative formation and push the price to attempt to regain the bullish trend again.
The expected trading range for today is between 1915.00 support and 1945.00 resistance.
The expected trend for today: Bearish
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