Commodities

Gold price tests the resistance – Analysis - 13-10-2021

2021-10-13 04:27:32 GMT (Economies.com)

Gold price keeps its stability below the first key resistance 1770.00, to keep the negative pressure valid and suggested for the upcoming period, and the price needs to break 1751.00 to ease the mission of heading towards our first waited negative target at 1735.00, reminding you that breaking this level will extend the bearish wave to reach 1692.00.

 

On the other hand, we should note that breaching 1770.00 followed by 1780.00 levels will stop the suggested negative scenario and lead the price to turn to rise.

 

The expected trading range for today is between 1735.00 support and 1775.00 resistance.

 

The expected trend for today: Bearish

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