The bearish trend scenario will remain valid intraday as well as in the short term. Chart analysis shows that the first target is located in the 1810 area. If it falls below this level, gold prices may extend their decline to $1,770 per ounce. It should be pointed out that if the gold price rebounds and breaks through 1835.35 US dollars per ounce, this will stop the expected decline, causing the gold price to start a recovery attempt and rise towards the first bullish target of 1873.50 US dollars per ounce.
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ADP data was released. After a brief recovery, it continued to fall to 1825, which is still a downward trend.
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As expected, the decline continued.
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Follow the channel below for more trading signals.
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Gold is still in a downward trend. You can try to make profits by short-term trading in the range. It is recommended to strictly set a stop loss value.
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Short-term profit target reached.