Gold price opens today’s trading positively to head towards potential test to the key resistance 1770.00, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum to reach the overbought areas.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which depends on the price stability below the mentioned resistance, while its next main target located at 1735.00.
The expected trading range for today is between 1735.00 support and 1775.00 resistance.
The expected trend for today: Bearish