Gold price bounced bearishly after consolidating below the initial resistance 1838.10, to resume the expected bearish track on the intraday basis, which targets 1810.00 followed by 1780.25 levels as next main stations.
The EMA50 continues to press negatively on the price to support the expectations to decline, noting that breaching 1850.00 will stop the negative scenario and lead the price to turn to rise.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bearish