Gold analysis

Gold continues to fluctuate sideways between the support level 1827.20 and the resistance 1846.70.

It returned to test the support and managed to breach it slightly, and we await confirmation of the break until confirming the start of the bearish path, which is likely to extend to the level of 1790.00 in the medium term, provided it remains below 1827.20 levels.

The presence of the moving averages above the price reinforces the bearish scenario, but as we mentioned, the break of the support must be confirmed so that we are within the actual bearish phase.

The expected trading range for today is between the support 1800.00 and the resistance 1840.00.

Support: 1810.00—1780.00.

Resistance: 1835.00—1846.00—1852.00.

The forecast general trend for today: bearish.

Author: GC
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