Gold analysis


Technical reviews

Gold price hovers around the 1797.00 level since yesterday, and starts today with a bullish bias in an attempt to breach the mentioned level, which provides indications that the price is heading to recover in the upcoming sessions, to target visiting 1825.15 areas mainly.

Therefore, the bullish bias will be likely for today, and breaching 1803.00 will facilitate the price’s mission to achieve the mentioned target, noting that failure to hold above 1797.00 will put the price under negative pressure again, to head towards testing 1770.00 initially.

The expected trading range for today is between the support 1785.00 and the resistance 1825.00

The forecast trend for today: bullish

Author: GC
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