Technical analysis: Gold prices still have more room to fall in the future

On June 8, analysts at Economies have the latest opinion today: the price of gold successfully reached our expected target of 1945.20 and closed below it, continuing the corrective downward trend, which will support the next downward target of 1913.15.

Therefore, we expect still more declines in the future.

It is worth noting that failure to consolidate below 1945.20 could push prices to attempt to recover and achieve gains from 1966.45 followed by 1977.25.

Today’s expected trading range is between 1925.00 support and 1960.00 resistance.