Gold price declines calmly – Analysis - 10-06-2021

Gold price shows slight bearish bias to move below the EMA50, noticing that stochastic attempts to gain the positive momentum, waiting to get motive that assist to push the price to resume the main bullish trend, which targets 1928.60 as a next main station.

In general, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above the bullish channel’s support line, which rise now to 1872.50, as breaking this level will press on the price to start correctional bearish wave on the intraday basis.

The expected trading range for today is between 1875.00 support and 1910.00 resistance.

The expected trend for today: Bullish