Commodities

Gold price within tight track – Analysis - 05-07-2022

2022-07-05 03:46:53 GMT (Economies.com)

Gold price didn’t show any strong move since yesterday, to hover around 1810.00 level, thus, no change to the expected bearish trend scenario on the intraday and short term basis, which get continuous support by the EMA50, waiting to achieve our negative targets that start at 1780.25 and extend to 1750.00 after breaking the previous level.

 

Note that breaching 1818.00 will stop the negative scenario and push the price to visit 1850.00 areas before any new negative target.

 

The expected trading range for today is between 1780.00 support and 1825.00 resistance.

 

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The expected trend for today: Bearish

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