GOLD awaits further decline
Hello everyone,
GOLD 4H NEW FORECAST
Sideways trading with the price of gold remaining below 2325.
Negative pressure from the EMA 50 keeps the bearish corrective trend scenario active.
Targeting 2260 as the next negative stop.
Features of a negative pattern that may push the price to exceed the mentioned target and head towards an additional downward correction, with its next target reaching 2230.
The downward trend is in control unless the price is able to breach the 2325 level and hold with a daily close above it.
The expected trading range for today is between the support 2285 and the resistance 2305.
GOLD 4H NEW FORECAST
Sideways trading with the price of gold remaining below 2325.
Negative pressure from the EMA 50 keeps the bearish corrective trend scenario active.
Targeting 2260 as the next negative stop.
Features of a negative pattern that may push the price to exceed the mentioned target and head towards an additional downward correction, with its next target reaching 2230.
The downward trend is in control unless the price is able to breach the 2325 level and hold with a daily close above it.
The expected trading range for today is between the support 2285 and the resistance 2305.
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