Gold price ended yesterday’s trading below 1212.00, to keep the negative effect of the double top pattern active, which encourages us to keep our bearish overview for the upcoming period, and the price needs to break 1208.40 followed by 1200.00 levels to confirm opening the way to head towards 1180.00 that represents our next main target.
The EMA50 forms negative pressure to support the expectations to decline, noting that holding below 1212.00 is important to continue the suggested negative scenario.
Expected trading range for today is between 1190.00 support and 1220.00 resistance.
Expected trend for today: Bearish