The price of gold has been fluctuating sideways in the past sessions, stable around the moving average of 50, noting that the stochastic indicator is losing its positive momentum noticeably, waiting to stimulate the price to resume the expected negative trading in the immediate term, which aims to test the 1964 level initially.
Therefore, the downward trend will remain expected for the coming period, keeping in mind that the breach of 1996 will stop the expected decline and lead the price to attempt to restore the main upward trend.
Pivot Price: 1983
Resistance prices: 1996 & 2010 & 2022
Support prices: 1964 & 1947 & 1933
The general trend expected for today is bearish
Therefore, the downward trend will remain expected for the coming period, keeping in mind that the breach of 1996 will stop the expected decline and lead the price to attempt to restore the main upward trend.
Pivot Price: 1983
Resistance prices: 1996 & 2010 & 2022
Support prices: 1964 & 1947 & 1933
The general trend expected for today is bearish
