Gold price approached from testing 1254.56 level and it remains stable below this level, where the EMA50 forms negative pressure against the price, while stochastic reaches the thresholds of the overbought levels.
Therefore, we keep preferring the bearish trend for today unless breaching 1245.56 level and holding above it, reminding you that the main waited target at 1229.32, while you should be aware that breaching 1254.56 will stop the expected decline and pushes the price to resume the main bullish trend.
Expected trading range for today is between 1229.00 support and 1254.00 resistance.
Expected trend for today: Bearish