Commodities

Gold price under the negative pressure – Analysis - 16-08-2022

2022-08-16 03:26:41 GMT (Economies.com)

Gold price faced strong negative pressure yesterday to test the key support 1779.25, noticing that the price kept its stability above it, accompanied by witnessing clear positive signals now through stochastic, waiting to motivate the price to resume the positive trades to visit 1802.80 initially.

 

Therefore, our overall bullish overview will remain valid, reminding you that it is important to hold above 1779.25 to achieve the suggested targets.

 

The expected trading range for today is between 1770.00 support and 1800.00 resistance.

 

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The expected trend for today: Bullish

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