Gold price attempted to breach 1302.60 level yesterday, but it begins today with bearish bias to move below the mentioned level, which keeps the chances valid to resume the expected correctional bearish trend on the intraday basis, supported by the negative overlapping signal provided now by stochastic, waiting to head towards 1275.30 level that represents our next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price settled above 1302.60, noting that the price forms triple top pattern that supports the chances of extending the bearish wave on the short term basis.
The expected trading range for today is between 1280.00 support and 1310.00 resistance.
The expected trend for today: Bearish