The price of gold came under clear negative pressure yesterday, as it reached the pivotal support level 1680, noting that the price starts the day with an upward slope in an attempt to move away from the mentioned level, which supports the continuation of the trend scenario The bullish trend is expected for the upcoming period to retest levels 1700-1704.
Over the medium term, the general trend is to the upside, targeting 1767-1792, awaiting confirmation of a breakout of 1722.00, to facilitate the task of the price by achieving positive targets, while recalling the importance of stability above 1680 to continue the expected rise.
breaking the support 1680 opens the door for further correction to 1622-1637 levels.
The expected trading range for today is between 1675.00 support and 1704.00 resistance
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