Gold Continues to Achieve Negative Targets

The yellow metal prices fell significantly during the previous session’s trading within the expected negative context during the last analysis, in which we depended on the stability of trading below the resistance level of 1816, surpassing the official target required to be achieved by 1770, recording its lowest price during early trading of the current session 1758.

On the technical side, today there is the beginning of a bearish technical structure that pressures the price to continue the bearish path, in addition to the clear negative pressure coming from the simple moving averages.

From here, we will maintain our negative outlook, knowing that trading below 1758 will facilitate the task required to visit 1745 next official stations.

Note: activating the bearish scenario depends on the price remaining below 1785.

S1: 1745.00	R1: 1792.00
S2: 1728.00	R2: 1822.00
S3: 1698.00	R3: 1838.00