Gold price traded with clear positivity on yesterday's evening to approach the key resistance 1263.15, and as we mentioned in our recent reports, holding below this level keeps the bearish trend scenario valid, supported by the negative pressure formed by the EMA50, besides stochastic entering the overbought areas.
Therefore, we will be waiting for bearish rebound in the upcoming sessions, and the main target is represented by testing 1240.85 level again, taking into consideration that breaching 1263.15 and holding above it will push the price to extend the recovery attempts and regain the main bullish trend again.
Expected trading range for today is between 1245.00 support and 1265.00 resistance.
Expected trend for today: Bearish