Gold price surpasses the minor support – Analysis - 07-11-2023
Economies.com
2023-11-07 03:29AM UTC
Gold price shows more bearish bias to surpass the EMA50 and completes forming the double top pattern as appears on the chart, to support the expectations of continuing the correctional bearish scenario, which targets testing 1962.35 initially, reminding you that breaking this level will push the price to 1933.30 as a next negative station.
Holding below 1988.00 is important to continue the expected decline, as breaching it represents positive factor that will lead the price to start recover attempts and regain the main bullish trend again.
The expected trading range for today is between 1956.00 support and 1985.00 resistance.
The expected trend for today: Bearish
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