Gold price attempts positively – Analysis - 06-12-2023

Gold price continued to decline and approached the bullish channel’s support line, noticing that the price begins to rebound bullishly to hint heading to resume the main bullish trend within the bullish channel that appears on the chart, on its way to achieve gains that start by testing 2075.25 areas.

Therefore, the bullish bias will be suggested for today, supported by stochastic positivity, and breaching 2028.00 will ease the mission to achieve the expected rise, noting that breaking 2006.00 will stop the bullish trend and push the price to start bearish correction on the intraday and short-term basis.

The expected trading range for today is between 2010.00 support and 2050.00 resistance.

The expected trend for today: Bullish