Gold price returns to trade negatively approaching from retesting the key support 1178.85, which holding above it represents the condition of continuing the intraday bullish trend, as this level represents a previously breached neckline of a double bottom that appears on image.
Stochastic moves near the oversold areas now, which supports the chances of bouncing upwards to resume the expected bullish wave, which targets 1225.00 followed by 1255.00 areas mainly, while breaking 1178.85 will push the price to visit areas that begin at 1160.85 and extend to 1131.80.
Expected trading range for today is between: 1170.00 support and 1210.00 resistance.
Expected trend for today: Bullish