GOLD 4H price touches the target
Updated
Gold price trading stabilizes below the broken neckline of the double top pattern, so that the negative effect of this pattern remains effective, waiting for the 1963 level to be broken to open the way for the rush towards the next corrective level at 1956.
Therefore, the bearish trend scenario will remain effective unless the 1981 level is breached and holds above it.
Pivot Price: 1963
Resistance prices: 1981 & 1998 & 2017
Support prices: 1956 & 1943 & 1931
The general trend expected for today: bearish
Therefore, the bearish trend scenario will remain effective unless the 1981 level is breached and holds above it.
Pivot Price: 1963
Resistance prices: 1981 & 1998 & 2017
Support prices: 1956 & 1943 & 1931
The general trend expected for today: bearish
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The gold price shows new negative trading to move away from the 1963 level, reinforcing expectations of a continuation of the downward trend during the coming sessions, waiting to visit the 1931 level as a next corrective target.The negative impact of the double top pattern supports the continuation of the proposed downward trend scenario, in addition to the negative pressure formed by the moving average 50, keeping in mind that breaching 1963 will stop the expected decline and lead the price to attempt to restore the main upward trend again.
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