Gold price struggles to stabilize above the immediate support of $1,930.00 amid an absence of supportive economic indicators. The precious metal shifts into bearish territory after a breakdown of the Head and Shoulders chart pattern formed on a lower time frame. Bear cross, represented by the 20 and 50-day Exponential Moving Averages (EMAs) at $1,950.00, indicates more weakness ahead. The yellow metal is seen declining toward the 200-day EMA, which is hovering around $1,907.00.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.