Gold price begins a bearish correction – Analysis - 14-06-2021

Gold price opened today’s trading with strong negativity to break the bullish channel’s support line and begins bearish correction for the rise that started from 1677.80 areas, as it begins testing 23.6% Fibonacci correction level at 1860.00, noting htat breaking this level will confirm extending the bearish wave to reach 1825.15 as a next negative target.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 1880.00 will stop the current negative pressure and lead the price to regain the main bullish trend again.

The expected trading range for today is between 1835.00 support and 1875.00 resistance.

The expected trend for today: Bearish