GOLD around the moving average
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GOLD 4H NEW FORECAST
Expected scenarios and trading range
The gold price shows some slight upward bias to test the moving average 50, which constitutes good resistance against the price, protecting the bearish corrective trend scenario and supporting the chances of resuming the decline during the coming sessions, waiting to visit the 2260 level as the next main target.
We will continue to favor the downward trend in the immediate term, provided it remains below 2325.
Breaking this level represents the key to escaping the bearish corrective path and heading back to the main bullish path again
Expected trading range
Between support 2285 and resistance 2325
GOLD 4H NEW FORECAST
Expected scenarios and trading range
The gold price shows some slight upward bias to test the moving average 50, which constitutes good resistance against the price, protecting the bearish corrective trend scenario and supporting the chances of resuming the decline during the coming sessions, waiting to visit the 2260 level as the next main target.
We will continue to favor the downward trend in the immediate term, provided it remains below 2325.
Breaking this level represents the key to escaping the bearish corrective path and heading back to the main bullish path again
Expected trading range
Between support 2285 and resistance 2325
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