Gold price awaits the confirmation signal – Analysis - 24-02-2021

Gold price attempted to break 1800.00 level yesterday but it couldn’t manage to hold below it, to keep the price stuck between the trend confirmation levels represented by the mentioned support and 1820.00 resistance, which keeps our neutrality valid until the price manages to breach one of these levels followed by detecting its next destination clearly.

We remind you that breaking the mentioned support will press on the price to resume the main bearish wave that targets 1765.00 followed by 1740.00 levels as next negative stations, while breaching the resistance represents the key to turn to rise and achieve gains that start at 1840.00 and extend to 1855.00.

The expected trading range for today is between 1790.00 support and 1830.00 resistance.

The expected trend for today: Neutral