Gold price faces solid resistance

Gold price shows bearish bias after facing solid resistance at 1928.60, to head towards achieving some expected decline in the upcoming sessions, targeting testing 1885.00 areas mainly before turning back to resume the main bullish track.

Therefore, the bearish bias will be suggested temporarily for today, taking into consideration that surpassing 1920.50 will stop the expected decline and lead the price to resume the main bullish trend again.

交易進行

Gold price continues to decline to surpass 1900.00 barrier, which supports the continuation of the intraday bearish trend scenario, which targets testing 1885.00 as a next station, noting that breaking this level will push the price to visit 1865.00 before any new attempt to rise.

Therefore, the bearish trend scenario will remain suggested for the upcoming period unless the price managed to breach 1915.00 and hold above it.