Relevance up to 15:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Blue rectangle- horizontal resistance
Red line -support trend line (broken)
Gold price has provided several signs of weakness since yesterday. Price failed to recapture $1,855 and instead price broke below $1,840 support level and the red upward sloping support trend line. Bears are taking control of the short-term trend. Price has made new lower lows and lower highs. Gold is expected to move lower towards $1,820-25 over the next few sessions. Resistance is now found at $1,860 and as long as price is below this level, bears will have the upper hand.
