Gold price’s trading settles below 1294.00, keeping yesterday’s expected bearish bias valid, waiting for heading towards the main target at 1250.00
Stochastic loses its positivity gradually, while the EMA50 put an intraday negative pressure that supports the suggested decline, which remains valid and active unless breaching 1300.00 and holding above it, where this breach will provide positive chances to regain the bullish track again and stops the negative effect for the head and shoulders pattern that appears in the chart.
Expected trading range for today is between: 1250.00 support and 1300.00 resistance.
Expected trend for today: Bearish