Gold price begins a bearish correction – Analysis - 26-06-2019

Gold price begins today’s trading with strong negativity to break 1420.00 and settles below it, which opens the way to start bearish correction for the bullish wave measured from 1275.00 to 1438.90, and the price approaches testing 23.6% Fibonacci correction level at 1400.20.

Therefore, we suggest the continuation of the bearish trend domination in the upcoming sessions, and breaking the above mentioned level will extend the bearish wave to reach 1376.30 as a next station, while the expected decline will remain valid unless the price managed to breach 1411.00 – 1420.00 levels and holding above them.

The expected trading range for today is between 1380.00 support and 1420.00 resistance.

The expected trend for today: Bearish