Gold analysis for 18.10

18.10.2021

Technical works

Gold price is trading around the 1770.00 level, and it keeps its stability below it, to keep opportunities available to continue the bearish trend in the upcoming sessions, waiting to head towards 1734.00, which represents our next main station.

Therefore, we will continue to suggest the bearish trend on an intraday basis, noting that breaching 1770.00 and stabilizing above it might push the price to test 1797.00 before any new attempt to decline.

The expected trading range for today is between the support 1745.00 and the resistance 1780.00

The forecast general trend for today: Bearish

Author: GC
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