Gold price traded positively yesterday to test 1480.00 $ barrier, noticing that stochastic shows a clear overbought signals, which supports the chances for resuming the expected bearish trend on the intraday and short term basis, reminding you that we are waiting for visiting 1447.00 level as a next main target.
You should be aware that the continuation of the bearish correctional wave depends on the stability below 1489.00, where breaching it will stop the negative scenario and leads the price to the main bullish track.
The expected trading range for today is between 1460.00 support and 1490.00 resistance.
The expected trend for today: Overall Bearish