Gold Price Short Term Technical Forecast [25-06-2022]

Gold Technical Forecast: According to the daily chart, gold (Yellow Metal) is poised to extend its decline. Yellow Metal has retreated below a mildly bearish 20 SMA while it approaches a directionless 200 SMA, offering dynamic support around 1,837.00. Technical indicators, in the meantime, retreat from their midlines, gaining bearish traction within negative levels.

The bearish case is clearer in the 4-hour chart, as gold is now trading below all of its moving averages. At the same time, technical indicators have entered negative territory, maintaining their bearish slopes. The bearish pressure could ease if the metal recovers above $1,850, a former relevant support level.

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Gold Price Short Term Technical Forecast [25-06-2022] via @goldsilverrepor
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