GOLD 1H : Support further decline

GOLD

New forecast

The price of gold has been fluctuating sideways in the past sessions, stable around the moving average 50, waiting to stimulate the price to resume the negative trading expected in the immediate term, which aims to test the 1975 level initially and extend to 1962.

Therefore, the downward trend scenario will be remain expected for the coming period, keeping in mind that the 1993 breach will stop the expected decline and lead the price to attempt to restore the main upward trend again ,so it is possible to do a retest to 1993 and then drop again .

The expect range trading for today it will be between resistance line 1993 and support line 1962 until stabilized .

Additionally ,Today News will affect the market .

support line : 1975 , 1962
resistance line :1993 , 2006

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GOLD

UPDATE

The price perfectly fulfills my idea and hit profit about +50 pip

close it or if u want to hold put sl at entry