Gold analysis

#Gold is trading around the resistance level 1810.90 since yesterday, as the price tried to breach this level, but failed to do so, to move within a sideways range around the resistance level and try to breach it, affected by the positivity of the stochastic indicator and also the fact that the price became above …

#Gold is trading around the resistance level 1810.90 since yesterday, as the price tried to breach this level, but failed to do so, to move within a sideways range around the resistance level and try to breach it, affected by the positivity of the stochastic indicator and also the fact that the price became above the moving average 20 level.

The stability of trades below the resistance level keeps the bearish scenario valid and active, and the target will be the support level 1790.00. It should be noted that the price breaching the resistance level and settling above it will constitute a positive case and start an upward corrective path that will extend to the EMA50 level and then to the level of 1827.20.

The expected trading range for today is between the support 1785.00 and the resistance 1827.00.

Support: 1800.00—1790.00—1785.00.

Resistance: 1810.00—1827.20—1835.00.

The forecast general trend for today: bearish.

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