Gold price closed yesterday’s trading below 1316.48, and the price falls under the negative pressure formed by the EMA50, noticing that stochastic provides clear negative signals now.
Therefore, these factors encourage us to keep our bearish overview that its next target located at 1301.20, noting that breaching 1323.50 will stop the expected decline and push the price into its main bullish track again.
Expected trading range for today is between 1290.00 support and 1325.00 resistance.
Expected trend for today: Bearish