Gold price holds below the resistance – Analysis - 15-10-2021

Gold price showed new attempts to breach 1797.00 but it keeps its consolidation below it, to keep the chances valid to resume the expected bearish trend for the upcoming period, waiting to visit 1770.00 as a next main target.

Stochastic provides negative signals that support the expected decline, noting that breaching 1797.00 will lead the price to achieve new gains that reach 1825.15.

The expected trading range for today is between 1785.00 support and 1810.00 resistance.

The expected trend for today: Bearish