![Gold Price Intraday Technical Forecast By Neal Bhai [08-06-2022]](https://www.goldsilverreports.com/wp-content/uploads/2018/12/gold-silver-shop-neal-bhai-reports.jpg)
Gold Price Intraday Technical Forecast: The Intraday chart for the gold (Yellow Metal) shows that the price managed to bounce from converging 20 and 200 SMAs, at around $1,840 Technical indicators have turned marginally higher but without strength enough to confirm further gains, as the RSI is still below its mid-line.
The bullish potential is limited according to the 4-hour chart. The Momentum indicator advances within negative levels, while the RSI lost its directional strength, now flat at around 51. Furthermore, the bright metal is developing below a firmly bearish 200 SMA, while the shorter ones remain directionless. Gold would need to run beyond $1,870, the mentioned 200 SMA, to have chances of advancing further towards the $1,900 price zone.
Gold Monthly Forecast, June 2022
Uptrend scenario
The uptrend may be expected to continue, while pair is trading above support level $1778 which will be followed by reaching resistance level $1892 and if it keeps on moving up above that level, we may expect the pair to reach resistance level $1922.
Downtrend scenario
An downtrend will start as soon, as the pair drops below support level $1775, which will be followed by moving down to support level $1720.