Technical Analysis: Gold Prices See Double Bottom Pattern

July 17th, Economies.com’s analysts’ latest opinion today: gold price shocks are slightly negative and are heading for a potential test of the key support level of 1945.20. Kinetic energy, which increases its strength.

Therefore, affected by the double bottom pattern on the chart, we believe that the market will resume the expected bullish trend, targeting 1977.25 as the next major stop, note that breaking through 1945.20 and following the 1935.10 level will stop the suggested rise and push prices down again.

Today’s expected trading range is between 1940.00 support and 1975.00 resistance.