Gold analysis

Gold tested the resistance level 1779.40, as trading settled below it.

Stochastic is giving a positive signal that may push the price to test the level of the 20 and 50 moving averages.

In general, we will continue to suggest the bearish path as long as the price continues to move below the level of 1779.40, and the targets will be 1765.00 and then 1750.00.

It should be noted that the price breaching the moving averages level will positively affect the price and push it back to the bullish path.

The expected trading range for today is between the support 1765.00 and the resistance 1790.00.

Support: 1780.00–1775.00–1765.00.

Resistance: 1795.00–1800.00–1808.00.

The forecast trend for today: neutral.

Author: GC
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