Gold price achieved some intraday gains yesterday to test the bearish resistance line that appears in the chart, noticing that the EMA50 meets this resistance to add strength to it, while stochastic shows overbought signals, which supports the chances for resuming the main bearish trend.
Therefore, our main bearish trend expectations will remain valid below 1100.00 level, reminding you that our next main target located at 1000.00.
Expected trading range for today is between 1040.00 support and 1090.00 resistance.
Expected trend for today: Bearish