Gold price moves near 1285.90 level, witnessing signs of negative formation that appears on the chart, which supports the chances of breaking the mentioned level followed by opening the way to rally towards 1267.00 level that represents the next correctional level.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1301.20 level and holding above it, noting that the EMA50 keeps supporting the suggested bearish wave.
Expected trading range for today is between 1270.00 support and 1305.00 resistance.
Expected trend for today: Bearish